Wedge Capital Management L L P NC reduced its stake in Amdocs Limited (NASDAQ:DOX) by 16.3% during the second quarter, Holdings Channel.com reports. The fund owned 9,567 shares of the technology company’s stock after selling 1,857 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Amdocs were worth $594,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. grew its stake in Amdocs by 47.8% in the 1st quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock worth $57,000 after acquiring an additional 342 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Amdocs in the 2nd quarter worth about $60,000. CENTRAL TRUST Co grew its stake in Amdocs by 56.2% in the 2nd quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock worth $69,000 after acquiring an additional 395 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in shares of Amdocs during the first quarter valued at approximately $103,000. Finally, Private Capital Group LLC boosted its stake in shares of Amdocs by 99.8% during the first quarter. Private Capital Group LLC now owns 1,990 shares of the technology company’s stock valued at $108,000 after purchasing an additional 994 shares in the last quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.
Shares of NASDAQ DOX traded up $0.53 during midday trading on Friday, reaching $63.90. 783,400 shares of the company’s stock traded hands, compared to its average volume of 601,642. The stock’s 50 day simple moving average is $63.26 and its 200-day simple moving average is $58.40. Amdocs Limited has a one year low of $52.60 and a one year high of $67.57. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.84 and a beta of 0.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.78%. Amdocs’s dividend payout ratio is presently 30.48%.
A number of research firms have recently issued reports on DOX. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price objective on the stock. in a research note on Tuesday, July 16th. BidaskClub upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, August 10th. TheStreet upgraded shares of Amdocs from a “c+” rating to a “b-” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Amdocs from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, ValuEngine upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $71.00.
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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