Corbyn Investment Management Inc. MD Increases Stake in Amdocs Limited $DOX

Corbyn Investment Management Inc. MD raised its position in Amdocs Limited (NASDAQ:DOX) by 31.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 58,279 shares of the technology company’s stock after acquiring an additional 13,885 shares during the period. Amdocs makes up 1.3% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 27th largest holding. Corbyn Investment Management Inc. MD owned 0.05% of Amdocs worth $3,803,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Scotia Capital Inc. raised its holdings in Amdocs by 3.5% during the third quarter. Scotia Capital Inc. now owns 4,289 shares of the technology company’s stock worth $352,000 after purchasing an additional 145 shares in the last quarter. WealthCollab LLC increased its position in Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after purchasing an additional 173 shares during the period. Blair William & Co. IL increased its position in Amdocs by 5.5% during the 3rd quarter. Blair William & Co. IL now owns 3,393 shares of the technology company’s stock worth $278,000 after purchasing an additional 177 shares during the period. Two Point Capital Management Inc. raised its stake in shares of Amdocs by 0.7% during the 4th quarter. Two Point Capital Management Inc. now owns 28,978 shares of the technology company’s stock worth $2,333,000 after buying an additional 191 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Amdocs by 2.2% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 9,634 shares of the technology company’s stock worth $790,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on DOX. Weiss Ratings reissued a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Cfra cut Amdocs to a “sell” rating in a research report on Thursday, May 14th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Sunday. Stifel Nicolaus decreased their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, KeyCorp began coverage on shares of Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.67.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $51.75 on Monday. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 0.90 and a beta of 0.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The business’s 50 day simple moving average is $59.12 and its 200-day simple moving average is $68.11. Amdocs Limited has a 12 month low of $49.79 and a 12 month high of $93.44.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data 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. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.Amdocs’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. As a group, equities analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s payout ratio is 45.60%.

Amdocs 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.