Janney Montgomery Scott LLC raised its holdings in Amdocs Limited (NASDAQ:DOX) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,490 shares of the technology company’s stock after acquiring an additional 835 shares during the period. Janney Montgomery Scott LLC’s holdings in Amdocs were worth $1,447,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. FMR LLC raised its holdings in shares of Amdocs by 13.6% in the 2nd quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock valued at $924,507,000 after acquiring an additional 1,722,080 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Amdocs by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 7,488,518 shares of the technology company’s stock valued at $481,661,000 after purchasing an additional 57,372 shares during the last quarter. Boston Partners increased its position in shares of Amdocs by 0.4% during the 3rd quarter. Boston Partners now owns 7,139,400 shares of the technology company’s stock valued at $459,206,000 after purchasing an additional 27,688 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Amdocs by 5.3% during the 3rd quarter. Wells Fargo & Company MN now owns 4,932,692 shares of the technology company’s stock valued at $317,271,000 after purchasing an additional 246,756 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Amdocs by 157.9% during the 2nd quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock valued at $266,696,000 after purchasing an additional 2,532,928 shares during the last quarter. 91.14% of the stock is currently owned by hedge funds and other institutional investors.
Amdocs Limited (DOX) opened at $65.75 on Thursday. Amdocs Limited has a 1 year low of $56.10 and a 1 year high of $67.98. The stock has a market capitalization of $9,600.70, a P/E ratio of 18.66, a P/E/G ratio of 2.27 and a beta of 0.52.
Amdocs declared that its board has initiated a stock repurchase program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 29th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.88 annualized dividend and a yield of 1.34%. Amdocs’s payout ratio is 29.73%.
Several brokerages have recently commented on DOX. BidaskClub lowered Amdocs from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th. Oppenheimer reiterated a “buy” rating and set a $77.00 price objective on shares of Amdocs in a research report on Thursday, December 14th. Zacks Investment Research lowered Amdocs from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Robert W. Baird reiterated a “hold” rating and set a $66.00 price objective on shares of Amdocs in a research report on Friday, October 20th. Finally, Jefferies Group reiterated a “hold” rating and set a $70.00 price objective on shares of Amdocs in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $70.29.
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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