Amdocs Limited (NASDAQ:DOX) Shares Sold by Meadow Creek Investment Management LLC
Meadow Creek Investment Management LLC lowered its holdings in Amdocs Limited (NASDAQ:DOX) by 12.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,912 shares of the technology company’s stock after selling 9,408 shares during the period. Meadow Creek Investment Management LLC’s holdings in Amdocs were worth $4,092,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Amdocs by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,511,024 shares of the technology company’s stock worth $88,511,000 after acquiring an additional 40,673 shares in the last quarter. SG Americas Securities LLC acquired a new position in Amdocs in the first quarter valued at $1,096,000. Wedge Capital Management L L P NC boosted its stake in Amdocs by 17.6% in the first quarter. Wedge Capital Management L L P NC now owns 11,424 shares of the technology company’s stock valued at $618,000 after acquiring an additional 1,707 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Amdocs by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 240,084 shares of the technology company’s stock worth $12,991,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Amdocs by 30.5% during the first quarter. Pzena Investment Management LLC now owns 13,695 shares of the technology company’s stock worth $741,000 after purchasing an additional 3,199 shares during the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on DOX shares. BidaskClub upgraded Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Zacks Investment Research cut shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 target price on the stock. in a report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Amdocs from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. ValuEngine upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, TheStreet raised shares of Amdocs from a “c+” rating to a “b-” rating in a research report on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Amdocs has an average rating of “Hold” and a consensus target price of $71.00.
Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Amdocs had a return on equity of 15.70% and a net margin of 9.90%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. Analysts forecast that Amdocs Limited will post 4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, September 27th. Amdocs’s payout ratio is 30.48%.
Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.
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