Glenmede Trust Co. NA cut its position in shares of Amdocs Limited (NASDAQ:DOX – Free Report) by 10.1% during the first quarter, HoldingsChannel.com reports. The firm owned 131,295 shares of the technology company’s stock after selling 14,736 shares during the period. Glenmede Trust Co. NA’s holdings in Amdocs were worth $8,568,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of DOX. Pzena Investment Management LLC lifted its position in Amdocs by 5.4% in the first quarter. Pzena Investment Management LLC now owns 12,681,089 shares of the technology company’s stock worth $827,568,000 after purchasing an additional 644,074 shares during the period. LSV Asset Management increased its holdings in Amdocs by 0.8% in the 4th quarter. LSV Asset Management now owns 3,678,532 shares of the technology company’s stock valued at $296,159,000 after buying an additional 29,829 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Amdocs by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock valued at $226,045,000 after buying an additional 571,036 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Amdocs by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,151,532 shares of the technology company’s stock valued at $258,583,000 after acquiring an additional 91,900 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of Amdocs by 2.8% during the 4th quarter. Brandes Investment Partners LP now owns 2,714,965 shares of the technology company’s stock valued at $218,583,000 after acquiring an additional 74,244 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.
Amdocs Price Performance
Shares of Amdocs stock opened at $55.37 on Tuesday. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 0.97 and a beta of 0.41. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $90.29. The firm’s 50-day moving average price is $54.77 and its two-hundred day moving average price is $63.90.
Amdocs Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Tuesday, June 30th. Amdocs’s dividend payout ratio is presently 45.40%.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. KeyCorp initiated coverage on shares of Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating for the company. Stifel Nicolaus cut their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Cfra downgraded Amdocs to a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Finally, Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.67.
Read Our Latest Analysis on Amdocs
Amdocs Profile
Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.
Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.
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