Amdocs Limited (DOX) Shares Sold by Pitcairn Co.
Pitcairn Co. decreased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 4,745 shares of the technology company’s stock after selling 185 shares during the period. Pitcairn Co.’s holdings in Amdocs Limited were worth $306,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in Amdocs Limited by 1.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 22,800 shares of the technology company’s stock valued at $1,460,000 after buying an additional 300 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Amdocs Limited by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 486,173 shares of the technology company’s stock valued at $31,339,000 after buying an additional 22,348 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Amdocs Limited by 30.6% in the second quarter. Canada Pension Plan Investment Board now owns 64,557 shares of the technology company’s stock valued at $4,161,000 after buying an additional 15,139 shares in the last quarter. Trexquant Investment LP purchased a new stake in Amdocs Limited during the second quarter valued at about $239,000. Finally, Eagle Ridge Investment Management raised its stake in Amdocs Limited by 3.0% in the second quarter. Eagle Ridge Investment Management now owns 105,572 shares of the technology company’s stock valued at $6,805,000 after buying an additional 3,043 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.
Amdocs Limited (DOX) opened at 62.86 on Wednesday. Amdocs Limited has a 52 week low of $54.91 and a 52 week high of $67.98. The company has a market cap of $9.17 billion, a PE ratio of 21.84 and a beta of 0.54. The company’s 50-day moving average price is $65.28 and its 200 day moving average price is $62.85.
Amdocs Limited (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.73% and a net margin of 11.11%. The firm had revenue of $967 million during the quarter, compared to the consensus estimate of $967.04 million. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts anticipate that Amdocs Limited will post $3.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 annualized dividend and a yield of 1.40%. Amdocs Limited’s payout ratio is 30.66%.
Several equities research analysts recently issued reports on DOX shares. Zacks Investment Research lowered Amdocs Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 target price on shares of Amdocs Limited in a research report on Friday, June 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Amdocs Limited in a research report on Wednesday, June 28th. BidaskClub lowered Amdocs Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Robert W. Baird increased their target price on Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $67.63.
About Amdocs Limited
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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