Amdocs Limited $DOX Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 94.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 599 shares of the technology company’s stock after selling 10,677 shares during the period. NewEdge Advisors LLC’s holdings in Amdocs were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DOX. Pzena Investment Management LLC boosted its holdings in shares of Amdocs by 82.6% during the 4th quarter. Pzena Investment Management LLC now owns 12,037,015 shares of the technology company’s stock worth $969,100,000 after purchasing an additional 5,443,766 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Amdocs by 155.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,110,393 shares of the technology company’s stock valued at $169,908,000 after purchasing an additional 1,283,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Amdocs by 19.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock worth $226,045,000 after buying an additional 571,036 shares in the last quarter. Squarepoint Ops LLC lifted its position in Amdocs by 469.4% during the fourth quarter. Squarepoint Ops LLC now owns 543,875 shares of the technology company’s stock worth $43,787,000 after buying an additional 448,358 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in Amdocs by 501.1% during the fourth quarter. Voloridge Investment Management LLC now owns 520,494 shares of the technology company’s stock worth $41,905,000 after buying an additional 433,907 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on DOX shares. Cfra cut Amdocs to a “sell” rating in a report on Thursday, May 14th. KeyCorp started coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating on the stock. Stifel Nicolaus dropped their price objective on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $86.67.

Amdocs Stock Up 0.7%

Shares of DOX opened at $62.70 on Friday. The company’s 50-day simple moving average is $54.87 and its 200-day simple moving average is $61.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. Amdocs Limited has a 1 year low of $49.74 and a 1 year high of $87.10. The stock has a market capitalization of $6.77 billion, a PE ratio of 14.93, a P/E/G ratio of 1.08 and a beta of 0.40.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.84. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Amdocs Limited will post 6.57 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a $0.569 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.6%. Amdocs’s payout ratio is 54.05%.

Amdocs 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.