Amdocs Limited (NASDAQ:DOX) Stake Lessened by Riverhead Capital Management LLC

Riverhead Capital Management LLC lowered its position in Amdocs Limited (NASDAQ:DOX) by 22.2% during the first quarter, HoldingsChannel.com reports. The firm owned 47,100 shares of the technology company’s stock after selling 13,450 shares during the period. Riverhead Capital Management LLC’s holdings in Amdocs were worth $2,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Amdocs by 1.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,100 shares of the technology company’s stock worth $709,000 after purchasing an additional 200 shares during the period. Macquarie Group Ltd. lifted its position in shares of Amdocs by 0.3% in the 4th quarter. Macquarie Group Ltd. now owns 68,943 shares of the technology company’s stock worth $4,039,000 after purchasing an additional 226 shares during the period. O Shares Investment Advisers LLC lifted its position in shares of Amdocs by 3.0% in the 1st quarter. O Shares Investment Advisers LLC now owns 9,590 shares of the technology company’s stock worth $519,000 after purchasing an additional 280 shares during the period. Smith Moore & CO. lifted its position in shares of Amdocs by 4.5% in the 4th quarter. Smith Moore & CO. now owns 7,185 shares of the technology company’s stock worth $421,000 after purchasing an additional 308 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in shares of Amdocs by 47.8% in the 1st quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock worth $57,000 after purchasing an additional 342 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Amdocs stock opened at $61.29 on Friday. Amdocs Limited has a 12-month low of $52.60 and a 12-month high of $70.31. The firm has a market cap of $8.55 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.79 and a beta of 0.39.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, May 14th. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.03. Amdocs had a net margin of 8.96% and a return on equity of 15.18%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company earned $0.95 EPS. Amdocs’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Amdocs Limited will post 4.01 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be given a dividend of $0.285 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.86%. Amdocs’s payout ratio is presently 30.48%.

A number of research analysts have recently issued reports on DOX shares. TheStreet upgraded shares of Amdocs from a “c+” rating to a “b-” rating in a research report on Tuesday, June 4th. Zacks Investment Research upgraded shares of Amdocs from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Friday, May 17th. ValuEngine upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. BidaskClub upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Amdocs from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $71.40.

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Amdocs Company Profile

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: How can investors find ex-dividend dates?

Want to see what other hedge funds are holding DOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amdocs Limited (NASDAQ:DOX).

Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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