Tyers Asset Management LLC cut its stake in shares of Amdocs Limited (NASDAQ:DOX) by 22.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 43,040 shares of the technology company’s stock after selling 12,144 shares during the period. Tyers Asset Management LLC’s holdings in Amdocs were worth $2,329,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in DOX. Morgan Dempsey Capital Management LLC purchased a new stake in Amdocs during the fourth quarter worth approximately $25,000. Riverview Trust Co purchased a new stake in Amdocs during the fourth quarter worth approximately $27,000. Cutler Group LP purchased a new stake in Amdocs during the fourth quarter worth approximately $55,000. Oppenheimer Asset Management Inc. purchased a new stake in Amdocs during the fourth quarter worth approximately $58,000. Finally, Meeder Asset Management Inc. lifted its stake in Amdocs by 47.8% during the first quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock worth $57,000 after purchasing an additional 342 shares during the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

NASDAQ DOX traded up $0.47 on Wednesday, reaching $61.08. The stock had a trading volume of 19,063 shares, compared to its average volume of 1,087,485. Amdocs Limited has a 12-month low of $52.60 and a 12-month high of $70.31. The stock has a market cap of $8.48 billion, a P/E ratio of 16.30, a P/E/G ratio of 1.80 and a beta of 0.39.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, May 14th. The technology company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.03. Amdocs had a return on equity of 15.18% and a net margin of 8.96%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts predict that Amdocs Limited will post 4.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, June 27th. Amdocs’s dividend payout ratio is currently 30.48%.

Several equities research analysts recently weighed in on the company. BidaskClub cut Amdocs from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. ValuEngine upgraded Amdocs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. TheStreet upgraded Amdocs from a “c+” rating to a “b-” rating in a research note on Tuesday, June 4th. Zacks Investment Research upgraded Amdocs from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Amdocs from $70.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Amdocs presently has an average rating of “Hold” and an average price target of $71.40.

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Amdocs Company Profile

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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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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