Rothschild Asset Management Inc. reduced its stake in shares of Amdocs Limited (NASDAQ:DOX) by 20.8% during the first quarter, Holdings Channel reports. The firm owned 8,578 shares of the technology company’s stock after selling 2,247 shares during the period. Rothschild Asset Management Inc.’s holdings in Amdocs Limited were worth $523,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of DOX. Robecosam AG bought a new position in shares of Amdocs Limited during the first quarter valued at about $114,000. Creative Planning boosted its position in shares of Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock valued at $134,000 after buying an additional 847 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Amdocs Limited by 30.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,969 shares of the technology company’s stock valued at $181,000 after buying an additional 696 shares during the period. ProShare Advisors LLC bought a new position in shares of Amdocs Limited during the first quarter valued at about $224,000. Finally, Wetherby Asset Management Inc. boosted its position in shares of Amdocs Limited by 4.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,812 shares of the technology company’s stock valued at $232,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.
Amdocs Limited (NASDAQ:DOX) traded down 0.51% during trading on Friday, reaching $64.75. The company’s stock had a trading volume of 792,329 shares. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.47 and a beta of 0.54. The firm has a 50 day moving average of $63.82 and a 200 day moving average of $61.03. Amdocs Limited has a 52 week low of $54.12 and a 52 week high of $66.48.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $966 million for the quarter, compared to analysts’ expectations of $960.58 million. Amdocs Limited had a return on equity of 14.46% and a net margin of 10.84%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. Analysts expect that Amdocs Limited will post $3.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.36%. Amdocs Limited’s dividend payout ratio (DPR) is presently 31.88%.
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Several equities analysts recently issued reports on DOX shares. Zacks Investment Research upgraded Amdocs Limited from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, May 22nd. Jefferies Group LLC restated a “hold” rating and issued a $59.00 price target on shares of Amdocs Limited in a research report on Friday. Robert W. Baird boosted their price target on Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, May 10th. J P Morgan Chase & Co restated a “neutral” rating and issued a $68.00 price target on shares of Amdocs Limited in a research report on Tuesday, May 9th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $70.00 price target (up previously from $65.00) on shares of Amdocs Limited in a research report on Tuesday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $66.29.
Amdocs Limited Company Profile
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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