Voloridge Investment Management LLC raised its holdings in Amdocs Limited (NASDAQ:DOX) by 52.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,274 shares of the technology company’s stock after acquiring an additional 18,995 shares during the period. Voloridge Investment Management LLC’s holdings in Amdocs were worth $3,654,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Amdocs in the second quarter worth $47,000. Morgan Dempsey Capital Management LLC raised its position in Amdocs by 110.0% during the second quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock valued at $56,000 after purchasing an additional 474 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Amdocs during the second quarter valued at about $60,000. Tower Research Capital LLC TRC raised its position in Amdocs by 20.6% during the third quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the technology company’s stock valued at $66,000 after purchasing an additional 171 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in Amdocs during the second quarter worth about $73,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.
Shares of NASDAQ:DOX opened at $69.29 on Tuesday. The stock has a market cap of $9.67 billion, a PE ratio of 17.02, a PEG ratio of 1.92 and a beta of 0.40. The company’s fifty day moving average is $67.07 and its 200 day moving average is $64.32. Amdocs Limited has a 52 week low of $52.60 and a 52 week high of $69.85.
Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Tuesday, November 12th. The technology company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. Amdocs had a net margin of 11.73% and a return on equity of 15.98%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Amdocs Limited will post 4.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, December 30th. Amdocs’s dividend payout ratio is presently 28.01%.
A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on Amdocs from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. decreased their price objective on Amdocs from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, BidaskClub cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Amdocs presently has a consensus rating of “Hold” and a consensus price target of $71.33.
Amdocs Company Profile
Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.
Read More: How Do Investors Open a Backdoor Roth IRA?
Receive News & Ratings for Amdocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amdocs and related companies with MarketBeat.com's FREE daily email newsletter.