California State Teachers Retirement System lowered its holdings in Amdocs Limited (NASDAQ:DOX) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 247,403 shares of the technology company’s stock after selling 21,564 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Amdocs worth $15,913,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOX. BB&T Investment Services Inc. bought a new position in Amdocs during the 2nd quarter valued at approximately $118,000. Acrospire Investment Management LLC bought a new position in Amdocs during the 2nd quarter valued at approximately $155,000. Robecosam AG increased its position in Amdocs by 37.8% during the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after buying an additional 700 shares in the last quarter. Sawtooth Solutions LLC bought a new position in Amdocs during the 2nd quarter valued at approximately $220,000. Finally, CIBC World Markets Inc. bought a new position in Amdocs during the 2nd quarter valued at approximately $222,000. Institutional investors and hedge funds own 92.05% of the company’s stock.
Shares of Amdocs Limited (NASDAQ:DOX) traded up $0.60 during trading on Friday, hitting $67.59. The stock had a trading volume of 516,542 shares, compared to its average volume of 536,881. Amdocs Limited has a fifty-two week low of $56.10 and a fifty-two week high of $67.98. The stock has a market capitalization of $9,640.82, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 2.30 and a beta of 0.52.
Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.05. Amdocs had a return on equity of 14.77% and a net margin of 11.30%. The firm had revenue of $979.70 million for the quarter, compared to analysts’ expectations of $977.72 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. research analysts anticipate that Amdocs Limited will post 3.72 earnings per share for the current year.
Amdocs announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 annualized dividend and a yield of 1.30%. Amdocs’s payout ratio is currently 29.73%.
A number of analysts have commented on the company. Zacks Investment Research lowered Amdocs from a “hold” rating to a “sell” rating in a report on Tuesday. Robert W. Baird restated a “hold” rating and issued a $66.00 price target on shares of Amdocs in a research note on Friday, October 20th. Jefferies Group restated a “hold” rating and issued a $70.00 price target on shares of Amdocs in a research note on Thursday, October 12th. BidaskClub downgraded Amdocs from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Finally, Oppenheimer reiterated a “buy” rating and set a $77.00 target price on shares of Amdocs in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Amdocs presently has a consensus rating of “Hold” and a consensus price target of $70.29.
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Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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