Cipher Capital LP Lowers Stake in Amdocs Limited (DOX)
Cipher Capital LP lowered its holdings in Amdocs Limited (NASDAQ:DOX) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,717 shares of the technology company’s stock after selling 20,055 shares during the period. Cipher Capital LP’s holdings in Amdocs Limited were worth $3,841,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BB&T Investment Services Inc. bought a new stake in Amdocs Limited during the 2nd quarter worth approximately $118,000. Acrospire Investment Management LLC bought a new stake in Amdocs Limited during the 2nd quarter worth approximately $155,000. Robecosam AG increased its holdings in Amdocs Limited by 37.8% during the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock worth $163,000 after acquiring an additional 700 shares during the period. HighTower Advisors LLC bought a new stake in Amdocs Limited during the 1st quarter worth approximately $220,000. Finally, Sawtooth Solutions LLC bought a new stake in Amdocs Limited during the 2nd quarter worth approximately $220,000. 90.88% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on DOX shares. Robert W. Baird reaffirmed a “hold” rating and set a $66.00 target price on shares of Amdocs Limited in a report on Friday, October 20th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $77.00 price target on shares of Amdocs Limited in a research note on Wednesday, September 27th. Stifel Nicolaus reissued a “buy” rating and issued a $72.00 price target (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. BidaskClub raised shares of Amdocs Limited from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research raised shares of Amdocs Limited from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $70.29.
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Amdocs Limited (NASDAQ:DOX) traded down $1.26 during mid-day trading on Friday, reaching $63.53. 1,180,000 shares of the company’s stock were exchanged, compared to its average volume of 1,273,842. Amdocs Limited has a fifty-two week low of $56.10 and a fifty-two week high of $67.98. The stock has a market cap of $9,234.40, a PE ratio of 17.95, a PEG ratio of 2.18 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.05. Amdocs Limited had a net margin of 11.30% and a return on equity of 14.77%. The business had revenue of $979.70 million during the quarter, compared to analysts’ expectations of $977.72 million. During the same quarter in the previous year, the company earned $0.89 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. analysts anticipate that Amdocs Limited will post 3.72 earnings per share for the current year.
Amdocs Limited announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 8th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.39%. Amdocs Limited’s dividend payout ratio (DPR) is 29.73%.
Amdocs Limited Company Profile
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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