Arrowstreet Capital Limited Partnership Cuts Stake in Amdocs Limited $DOX

Arrowstreet Capital Limited Partnership lessened its position in Amdocs Limited (NASDAQ:DOX) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 895,802 shares of the technology company’s stock after selling 108,955 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Amdocs were worth $58,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC raised its holdings 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 worth $969,100,000 after purchasing an additional 5,443,766 shares in the last quarter. Alyeska Investment Group L.P. increased its position in Amdocs by 155.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,110,393 shares of the technology company’s stock worth $169,908,000 after purchasing an additional 1,283,231 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Amdocs by 19.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock worth $226,045,000 after buying an additional 571,036 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Amdocs by 469.4% during the 4th quarter. Squarepoint Ops LLC now owns 543,875 shares of the technology company’s stock worth $43,787,000 after buying an additional 448,358 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Amdocs by 501.1% in the 4th quarter. Voloridge Investment Management LLC now owns 520,494 shares of the technology company’s stock valued at $41,905,000 after buying an additional 433,907 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOX shares. Stifel Nicolaus decreased their price target 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 cut Amdocs to a “sell” rating in a research report on Thursday, May 14th. KeyCorp began coverage on Amdocs in a report on Monday, June 29th. They issued a “sector weight” rating for the company. 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 research note on Friday, May 8th. 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 stock. According to MarketBeat, Amdocs presently has an average rating of “Hold” and an average price target of $86.67.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $53.10 on Tuesday. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.91 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 $55.46 and its 200-day simple moving average is $64.88. Amdocs Limited has a 12 month low of $49.74 and a 12 month high of $90.29.

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 Announces Dividend

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 4.3%. 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.