Amdocs Limited $DOX Stock: Beutel Goodman & Co Ltd. Trims Stake

Beutel Goodman & Co Ltd. trimmed its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 6.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,313,065 shares of the technology company’s stock after selling 301,094 shares during the quarter. Amdocs makes up 1.9% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 20th biggest holding. Beutel Goodman & Co Ltd.’s holdings in Amdocs were worth $246,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management increased its stake in Amdocs by 58.2% during the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company’s stock worth $29,000 after acquiring an additional 184 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Amdocs during the third quarter valued at approximately $57,000. Versant Capital Management Inc raised its position in Amdocs by 3,340.6% during the third quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company’s stock valued at $63,000 after purchasing an additional 1,069 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Amdocs by 16.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $74,000 after purchasing an additional 182 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Amdocs by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,725 shares of the technology company’s stock valued at $87,000 after purchasing an additional 684 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Oppenheimer cut Amdocs from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 4th. Stifel Nicolaus decreased their price target on Amdocs from $71.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.33.

Amdocs Trading Down 0.8%

Shares of NASDAQ DOX opened at $41.74 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50 day moving average price is $59.07 and its 200-day moving average price is $61.77. Amdocs Limited has a fifty-two week low of $40.48 and a fifty-two week high of $85.63. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 0.70 and a beta of 0.42.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.98. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Amdocs had a return on equity of 20.70% and a net margin of 10.59%. Amdocs’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. On average, sell-side analysts expect that Amdocs Limited will post 7.12 earnings per share for the current year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.5690 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, December 31st. Amdocs’s payout ratio is currently 48.82%.

About Amdocs