Putnam Investments LLC Cuts Position in Amdocs Limited (NASDAQ:DOX)

Putnam Investments LLC lessened its stake in Amdocs Limited (NASDAQ:DOX) by 23.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,557 shares of the technology company’s stock after selling 6,539 shares during the quarter. Putnam Investments LLC’s holdings in Amdocs were worth $1,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Amdocs during the 2nd quarter valued at about $47,000. Morgan Dempsey Capital Management LLC increased its holdings in Amdocs by 110.0% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock valued at $56,000 after acquiring an additional 474 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Amdocs during the 2nd quarter valued at about $60,000. CENTRAL TRUST Co increased its holdings in Amdocs by 56.2% during the 2nd 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 in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in Amdocs during the 2nd quarter valued at about $73,000. Institutional investors and hedge funds own 92.00% of the company’s stock.

Shares of Amdocs stock traded up $0.18 during mid-day trading on Tuesday, hitting $66.00. 206,701 shares of the stock were exchanged, compared to its average volume of 549,362. Amdocs Limited has a twelve month low of $52.60 and a twelve month high of $67.57. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.40. The company has a 50-day simple moving average of $64.68 and a 200 day simple moving average of $60.05.



Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.08. Amdocs had a net margin of 9.90% and a return on equity of 15.70%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Amdocs Limited will post 4.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.285 per share. The ex-dividend date is Friday, September 27th. This represents a $1.14 annualized dividend and a dividend yield of 1.73%. Amdocs’s dividend payout ratio is currently 30.48%.

DOX has been the subject of several recent research reports. BidaskClub upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. raised their price target on shares of Amdocs from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Zacks Investment Research cut shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price target on the stock. in a research note on Tuesday, July 16th. Finally, TheStreet raised shares of Amdocs from a “c+” rating to a “b-” rating in a research note on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Amdocs has a consensus rating of “Hold” and an average price target of $71.00.

About Amdocs

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.

Further Reading: Can systematic risk be avoided?

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

Receive News & Ratings for Amdocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amdocs and related companies with MarketBeat.com's FREE daily email newsletter.