Amdocs Limited $DOX Holdings Cut by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of Amdocs Limited (NASDAQ:DOX) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,838 shares of the technology company’s stock after selling 28,139 shares during the period. Legal & General Group Plc owned 0.31% of Amdocs worth $27,038,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in Amdocs during the fourth quarter valued at $414,000. Legato Capital Management LLC boosted its position in Amdocs by 1.6% during the fourth quarter. Legato Capital Management LLC now owns 28,351 shares of the technology company’s stock valued at $2,283,000 after purchasing an additional 460 shares during the last quarter. LSV Asset Management boosted its position in Amdocs by 0.8% during the fourth quarter. LSV Asset Management now owns 3,678,532 shares of the technology company’s stock valued at $296,159,000 after purchasing an additional 29,829 shares during the last quarter. Pzena Investment Management LLC boosted its position in Amdocs by 82.6% during the fourth quarter. Pzena Investment Management LLC now owns 12,037,015 shares of the technology company’s stock valued at $969,100,000 after purchasing an additional 5,443,766 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. acquired a new stake in shares of Amdocs in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Ratings Changes

DOX has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Cfra cut Amdocs to a “sell” rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Barclays cut their price objective on Amdocs from $111.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Amdocs has a consensus rating of “Hold” and an average target price of $86.67.

Amdocs Stock Performance

Shares of DOX opened at $62.97 on Monday. Amdocs Limited has a 1 year low of $59.40 and a 1 year high of $95.41. The company’s 50 day simple moving average is $64.24 and its 200 day simple moving average is $71.94. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.97 and a beta of 0.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $1.78 EPS. Amdocs’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts predict that Amdocs Limited will post 7.41 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.569 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 3.6%. Amdocs’s payout ratio is 45.60%.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.