Brandes Investment Partners LP Acquires 74,244 Shares of Amdocs Limited $DOX

Brandes Investment Partners LP lifted its holdings in Amdocs Limited (NASDAQ:DOX) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,714,965 shares of the technology company’s stock after purchasing an additional 74,244 shares during the period. Amdocs comprises 1.7% of Brandes Investment Partners LP’s investment portfolio, making the stock its 14th biggest position. Brandes Investment Partners LP’s holdings in Amdocs were worth $218,583,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. WealthCollab LLC increased its stake in shares of Amdocs by 94.5% in the third 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. BOK Financial Private Wealth Inc. bought a new position in Amdocs during the fourth quarter valued at about $37,000. Los Angeles Capital Management LLC bought a new position in Amdocs during the fourth quarter valued at about $39,000. Abich Financial Wealth Management LLC bought a new position in Amdocs during the third quarter valued at about $39,000. Finally, Advisory Services Network LLC bought a new position in Amdocs during the third quarter valued at about $42,000. 92.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DOX has been the topic of several research reports. Cfra lowered Amdocs to a “sell” rating in a research note on Thursday, May 14th. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Stifel Nicolaus lowered 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Amdocs currently has a consensus rating of “Hold” and a consensus target price of $86.67.

Amdocs Stock Down 0.6%

Shares of DOX opened at $57.98 on Wednesday. The company has a market capitalization of $6.26 billion, a P/E ratio of 11.60, a PEG ratio of 1.01 and a beta of 0.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. Amdocs Limited has a one year low of $57.59 and a one year high of $95.41. The business’s 50 day simple moving average is $63.70 and its 200-day simple moving average is $71.12.

Amdocs (NASDAQ:DOX) last announced its earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.77 by $0.01. The business had revenue of $1.17 billion for 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 revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts predict that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 3.9%. Amdocs’s dividend payout ratio is currently 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.