New York State Teachers Retirement System Makes New Investment in Amdocs Limited $DOX

New York State Teachers Retirement System acquired a new stake in shares of Amdocs Limited (NASDAQ:DOX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,086 shares of the technology company’s stock, valued at approximately $658,000.

A number of other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC grew its holdings in Amdocs by 82.6% during the 4th quarter. Pzena Investment Management LLC now owns 12,037,015 shares of the technology company’s stock valued at $969,100,000 after purchasing an additional 5,443,766 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in Amdocs by 155.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,110,393 shares of the technology company’s stock worth $169,908,000 after buying an additional 1,283,231 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Amdocs by 32.1% in the 3rd quarter. Alliancebernstein L.P. now owns 2,359,779 shares of the technology company’s stock worth $193,620,000 after buying an additional 573,349 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Amdocs by 24.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,892,761 shares of the technology company’s stock valued at $232,903,000 after buying an additional 560,380 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Amdocs by 469.4% in the fourth quarter. Squarepoint Ops LLC now owns 543,875 shares of the technology company’s stock worth $43,787,000 after acquiring an additional 448,358 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Performance

Shares of DOX stock opened at $52.76 on Tuesday. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.90 and a beta of 0.41. Amdocs Limited has a one year low of $49.79 and a one year high of $90.29. The company’s 50-day simple moving average is $57.59 and its 200-day simple moving average is $66.92. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $1.78 earnings per share. Amdocs’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.569 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 4.3%. Amdocs’s payout ratio is presently 45.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DOX. Cfra lowered Amdocs to a “sell” rating in a research note on Thursday, May 14th. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Stifel Nicolaus reduced their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. KeyCorp assumed coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.67.

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.