Acadian Asset Management LLC trimmed its holdings in Amdocs Limited (NASDAQ:DOX) by 22.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,628,787 shares of the technology company’s stock after selling 468,307 shares during the quarter. Acadian Asset Management LLC’s holdings in Amdocs were worth $107,468,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOX. Robeco Institutional Asset Management B.V. increased its holdings in Amdocs by 47.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,417,153 shares of the technology company’s stock worth $93,535,000 after buying an additional 459,024 shares in the last quarter. Standard Life Aberdeen plc grew its stake in shares of Amdocs by 17.3% during the 2nd quarter. Standard Life Aberdeen plc now owns 2,894,247 shares of the technology company’s stock valued at $191,600,000 after purchasing an additional 427,752 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Amdocs by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,446,127 shares of the technology company’s stock valued at $425,316,000 after purchasing an additional 375,255 shares during the period. Cooke & Bieler LP grew its stake in shares of Amdocs by 31.9% during the 2nd quarter. Cooke & Bieler LP now owns 1,206,876 shares of the technology company’s stock valued at $79,883,000 after purchasing an additional 292,143 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Amdocs during the 2nd quarter valued at about $17,597,000. Institutional investors own 90.54% of the company’s stock.
DOX stock opened at $63.27 on Thursday. Amdocs Limited has a twelve month low of $60.50 and a twelve month high of $71.72. The stock has a market cap of $8.99 billion, a PE ratio of 16.94, a P/E/G ratio of 1.82 and a beta of 0.52.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Amdocs from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Citigroup cut their price target on Amdocs from $79.00 to $77.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. BidaskClub downgraded Amdocs from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. Barclays set a $73.00 price objective on Amdocs and gave the company a “hold” rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $72.00 price objective on shares of Amdocs in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.60.
Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, pay TV, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions.
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