Amdocs Limited $DOX Stock Holdings Lifted by CI Investments Inc.

CI Investments Inc. increased its holdings in Amdocs Limited (NASDAQ:DOX) by 160.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 82,322 shares of the technology company’s stock after buying an additional 50,670 shares during the period. CI Investments Inc. owned about 0.08% of Amdocs worth $5,372,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOX. Amundi grew its holdings in shares of Amdocs by 73.0% during the first quarter. Amundi now owns 13,778 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 5,816 shares during the last quarter. Millennium Management LLC raised its position in shares of Amdocs by 458.3% during the 1st quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock worth $6,135,000 after purchasing an additional 55,038 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Amdocs by 12.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock worth $30,300,000 after purchasing an additional 37,087 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Amdocs by 12.0% in the 1st quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock worth $1,462,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Amdocs by 195.4% during the 1st quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock valued at $10,608,000 after purchasing an additional 76,683 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

DOX has been the subject of a number of recent research reports. KeyCorp initiated coverage on Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating for the company. Stifel Nicolaus cut their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Cfra lowered shares of Amdocs to a “sell” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.67.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $50.85 on Friday. Amdocs Limited has a 12-month low of $49.74 and a 12-month high of $90.29. The company has a market cap of $5.49 billion, a PE ratio of 10.17, a P/E/G ratio of 0.89 and a beta of 0.41. The stock has a 50 day simple moving average of $55.81 and a 200-day simple moving average of $65.29. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last posted its earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. On average, equities research analysts forecast that Amdocs Limited will post 6.56 EPS for the current year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is 45.60%.

About Amdocs

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.