Legal & General Group Plc Cuts Stock Holdings in Amdocs Limited $DOX

Legal & General Group Plc lowered its stake in shares of Amdocs Limited (NASDAQ:DOX) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,838 shares of the technology company’s stock after selling 28,139 shares during the period. Legal & General Group Plc’s holdings in Amdocs were worth $27,038,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of DOX. Amundi raised its stake in Amdocs by 73.0% during the first quarter. Amundi now owns 13,778 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 5,816 shares during the period. Millennium Management LLC raised its stake in Amdocs by 458.3% during the first quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock worth $6,135,000 after purchasing an additional 55,038 shares during the period. Goldman Sachs Group Inc. raised its stake in Amdocs by 12.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock worth $30,300,000 after purchasing an additional 37,087 shares during the period. Empowered Funds LLC raised its stake in Amdocs by 12.0% during the first quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock worth $1,462,000 after purchasing an additional 1,709 shares during the period. Finally, Jane Street Group LLC raised its stake in Amdocs by 195.4% during the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after purchasing an additional 76,683 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DOX shares. Stifel Nicolaus cut their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Barclays cut their target price on shares of Amdocs from $111.00 to $92.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Finally, Cfra downgraded shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.67.

Amdocs Price Performance

DOX opened at $62.97 on Monday. The company has a fifty day simple moving average of $64.24 and a 200 day simple moving average of $71.94. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.97 and a beta of 0.38. Amdocs Limited has a twelve month low of $59.40 and a twelve month high of $95.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. Equities research analysts expect that Amdocs Limited will post 7.41 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is presently 45.60%.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.