Tiverton Asset Management LLC raised its stake in Amdocs Limited (NASDAQ:DOX) by 104.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,043 shares of the technology company’s stock after acquiring an additional 3,087 shares during the period. Tiverton Asset Management LLC’s holdings in Amdocs were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in Amdocs in the second quarter worth about $47,000. Morgan Dempsey Capital Management LLC raised its position in shares of Amdocs by 110.0% during the second quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock worth $56,000 after acquiring an additional 474 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Amdocs during the second quarter valued at $60,000. CENTRAL TRUST Co lifted its stake in shares of Amdocs by 56.2% during the second quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock valued at $69,000 after acquiring an additional 395 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new position in Amdocs during the 2nd quarter valued at about $73,000. 94.18% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the company. TheStreet raised Amdocs from a “c+” rating to a “b-” rating in a research note on Tuesday, June 4th. BidaskClub upgraded Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price objective for the company. in a research report on Tuesday, July 16th. ValuEngine upgraded Amdocs from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amdocs from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Amdocs has a consensus rating of “Hold” and an average target price of $71.00.
Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.08. The company 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 business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $1.03 earnings per share. On average, analysts forecast that Amdocs Limited will post 4.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, September 27th. Amdocs’s dividend payout ratio (DPR) is presently 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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