Daiwa Securities Group Inc. acquired a new position in shares of Amdocs Limited (NASDAQ:DOX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 132,409 shares of the technology company’s stock, valued at approximately $8,670,000.
Several other large investors have also added to or reduced their stakes in the company. BB&T Investment Services Inc. bought a new position in Amdocs during the 2nd quarter valued at about $118,000. Robecosam AG lifted its holdings in Amdocs by 37.8% during the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after purchasing an additional 700 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Amdocs by 45.0% during the 4th quarter. CENTRAL TRUST Co now owns 3,388 shares of the technology company’s stock valued at $222,000 after purchasing an additional 1,052 shares during the last quarter. Prudential Financial Inc. bought a new position in Amdocs during the 2nd quarter valued at about $230,000. Finally, Cerebellum GP LLC bought a new position in Amdocs during the 4th quarter valued at about $246,000. 91.98% of the stock is owned by institutional investors.
Shares of Amdocs Limited (NASDAQ:DOX) opened at $65.15 on Friday. The firm has a market cap of $9,376.00, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.22 and a beta of 0.52. Amdocs Limited has a 1 year low of $58.89 and a 1 year high of $71.37.
Amdocs announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that allows the company to buyback $800.00 million in shares. This buyback authorization allows the technology company to buy 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, March 30th will be given a dividend of $0.25 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.22. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Amdocs’s payout ratio is currently 28.39%.
Several brokerages recently issued reports on DOX. Stifel Nicolaus lifted their price target on shares of Amdocs from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. BidaskClub upgraded shares of Amdocs from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 18th. Oppenheimer restated a “buy” rating and issued a $77.00 price objective on shares of Amdocs in a research report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Robert W. Baird restated a “hold” rating and issued a $66.00 price objective on shares of Amdocs in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $70.71.
Amdocs 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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