IBM Retirement Fund decreased its stake in shares of Amdocs Ltd. (NASDAQ:DOX) by 18.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,966 shares of the company’s stock after selling 3,281 shares during the period. IBM Retirement Fund’s holdings in Amdocs were worth $864,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Eqis Capital Management Inc. increased its stake in shares of Amdocs by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 4,316 shares of the company’s stock valued at $249,000 after buying an additional 26 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Amdocs by 0.6% in the second quarter. BNP Paribas Arbitrage SA now owns 29,796 shares of the company’s stock valued at $1,720,000 after buying an additional 184 shares during the last quarter. 1st Global Advisors Inc. increased its stake in shares of Amdocs by 4.5% in the second quarter. 1st Global Advisors Inc. now owns 5,365 shares of the company’s stock valued at $310,000 after buying an additional 233 shares during the last quarter. Bristlecone Advisors LLC increased its stake in shares of Amdocs by 0.8% in the first quarter. Bristlecone Advisors LLC now owns 33,357 shares of the company’s stock valued at $2,015,000 after buying an additional 275 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Amdocs by 6.9% in the second quarter. State of Alaska Department of Revenue now owns 5,185 shares of the company’s stock valued at $299,000 after buying an additional 334 shares during the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.

Amdocs Ltd. (NASDAQ:DOX) traded down 1.12% during trading on Friday, hitting $59.26. 1,010,664 shares of the company were exchanged. The stock’s 50-day moving average is $59.39 and its 200-day moving average is $58.11. Amdocs Ltd. has a 12 month low of $50.06 and a 12 month high of $61.33. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 22.40 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. Amdocs had a net margin of 10.93% and a return on equity of 14.59%. The firm had revenue of $930 million for the quarter, compared to the consensus estimate of $928.81 million. During the same period in the prior year, the firm posted $0.84 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Amdocs Ltd. will post $3.57 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Wednesday, September 28th. Amdocs’s dividend payout ratio (DPR) is presently 29.32%.

A number of analysts have issued reports on DOX shares. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a report on Monday, July 11th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $65.00 price target on shares of Amdocs in a report on Wednesday, July 27th. Jefferies Group boosted their target price on shares of Amdocs from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, July 27th. Citigroup Inc. boosted their target price on shares of Amdocs from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Amdocs from $61.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.13.

About Amdocs

Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.

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