Amdocs Limited (DOX) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN grew its stake in Amdocs Limited (NASDAQ:DOX) by 5.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,932,692 shares of the technology company’s stock after acquiring an additional 246,756 shares during the period. Wells Fargo & Company MN owned about 3.39% of Amdocs worth $317,271,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in DOX. Nomura Holdings Inc. purchased a new stake in Amdocs during the 2nd quarter worth approximately $419,000. Victory Capital Management Inc. increased its stake in Amdocs by 21.3% during the 2nd quarter. Victory Capital Management Inc. now owns 38,676 shares of the technology company’s stock worth $2,493,000 after buying an additional 6,783 shares during the period. Caxton Associates LP purchased a new stake in Amdocs during the 2nd quarter worth approximately $748,000. Seven Eight Capital LP increased its stake in Amdocs by 46.4% during the 2nd quarter. Seven Eight Capital LP now owns 39,100 shares of the technology company’s stock worth $2,520,000 after buying an additional 12,400 shares during the period. Finally, Aperio Group LLC increased its stake in Amdocs by 12.1% during the 3rd quarter. Aperio Group LLC now owns 927,835 shares of the technology company’s stock worth $59,678,000 after buying an additional 100,145 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Amdocs Limited (NASDAQ DOX) opened at $65.14 on Thursday. Amdocs Limited has a 52-week low of $56.10 and a 52-week high of $67.98. The company has a market cap of $9,482.96, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.24 and a beta of 0.53.
Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.05. Amdocs had a net margin of 11.30% and a return on equity of 14.77%. The company had revenue of $979.70 million for the quarter, compared to the consensus estimate of $977.72 million. During the same period in the prior year, the firm posted $0.89 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. analysts anticipate that Amdocs Limited will post 3.72 EPS for the current year.
Amdocs declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 8th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, December 28th. Amdocs’s dividend payout ratio is presently 29.73%.
Several brokerages recently weighed in on DOX. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Monday, November 13th. Oppenheimer reissued a “buy” rating and issued a $77.00 price objective on shares of Amdocs in a research report on Thursday, November 9th. BidaskClub downgraded shares of Amdocs from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 31st. Robert W. Baird reissued a “hold” rating and issued a $66.00 price objective on shares of Amdocs in a research report on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and issued a $70.00 price objective on shares of Amdocs in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.29.
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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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