Millennium Management LLC increased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 102.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,213 shares of the technology company’s stock after buying an additional 47,183 shares during the period. Millennium Management LLC owned about 0.06% of Amdocs worth $6,170,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in Amdocs during the second quarter worth about $107,000. Fort L.P. acquired a new position in Amdocs during the second quarter worth about $118,000. Dynamic Technology Lab Private Ltd acquired a new position in Amdocs during the second quarter worth about $205,000. Capital Fund Management S.A. acquired a new position in Amdocs during the second quarter worth about $218,000. Finally, BNP Paribas Arbitrage SA raised its position in Amdocs by 102.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,373 shares of the technology company’s stock worth $289,000 after acquiring an additional 2,212 shares during the last quarter. 90.91% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:DOX opened at $61.40 on Friday. The company has a market capitalization of $9.46 billion, a PE ratio of 17.29, a PEG ratio of 2.07 and a beta of 0.52. Amdocs Limited has a 1-year low of $60.50 and a 1-year high of $71.72.
Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, July 31st. The technology company reported $0.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.97. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Amdocs had a net margin of 10.56% and a return on equity of 15.00%. Analysts forecast that Amdocs Limited will post 3.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, September 27th. Amdocs’s dividend payout ratio is presently 28.17%.
A number of equities analysts have issued reports on the stock. BidaskClub cut shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Zacks Investment Research cut shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Barclays set a $73.00 target price on shares of Amdocs and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Citigroup cut their target price on shares of Amdocs from $79.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Finally, Robert W. Baird restated a “hold” rating and set a $72.00 target price on shares of Amdocs in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.60.
Amdocs Company Profile
Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, pay TV, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions.
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