Renaissance Technologies LLC Grows Stake in Amdocs Limited $DOX

Renaissance Technologies LLC increased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 429.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 291,800 shares of the technology company’s stock after purchasing an additional 236,700 shares during the period. Renaissance Technologies LLC’s holdings in Amdocs were worth $19,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WealthCollab LLC raised its holdings in shares of Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after acquiring an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amdocs in the fourth quarter worth approximately $37,000. Los Angeles Capital Management LLC purchased a new stake in shares of Amdocs during the fourth quarter worth approximately $39,000. Advisory Services Network LLC purchased a new stake in shares of Amdocs during the third quarter worth approximately $42,000. Finally, CIBC Private Wealth Group LLC raised its stake in Amdocs by 190.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after purchasing an additional 390 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on DOX. Cfra cut shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. KeyCorp started coverage on shares of Amdocs in a research note on Monday, June 29th. They issued a “sector weight” rating on the stock. Stifel Nicolaus lowered their price target on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed 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 given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.67.

Amdocs Stock Down 2.6%

Shares of DOX opened at $55.37 on Friday. Amdocs Limited has a 52-week low of $49.74 and a 52-week high of $90.29. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $55.06 and a two-hundred day simple moving average of $64.29. The company has a market capitalization of $5.98 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 0.99 and a beta of 0.41.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results 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 net margin of 11.81% and a return on equity of 19.77%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.569 dividend. This represents a $2.28 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, June 30th. Amdocs’s payout ratio is presently 45.60%.

About Amdocs

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.