Bleakley Financial Group LLC Acquires Shares of 12,844 Amdocs Limited $DOX

Bleakley Financial Group LLC bought a new stake in Amdocs Limited (NASDAQ:DOX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,844 shares of the technology company’s stock, valued at approximately $838,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Pzena Investment Management LLC lifted its holdings in Amdocs by 5.4% in the 1st quarter. Pzena Investment Management LLC now owns 12,681,089 shares of the technology company’s stock valued at $827,568,000 after purchasing an additional 644,074 shares in 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 worth $296,159,000 after acquiring an additional 29,829 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Amdocs by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,165,988 shares of the technology company’s stock valued at $253,786,000 after acquiring an additional 54,676 shares in the last quarter. Wellington Management Group LLP grew its stake in Amdocs by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,151,532 shares of the technology company’s stock valued at $258,583,000 after acquiring an additional 91,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Amdocs by 24.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,892,761 shares of the technology company’s stock valued at $232,903,000 after acquiring an additional 560,380 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Amdocs Stock Down 0.5%

Shares of DOX opened at $52.63 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market cap of $5.68 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.92 and a beta of 0.41. The company’s 50-day moving average price is $56.61 and its 200 day moving average price is $66.21. Amdocs Limited has a 12-month low of $49.79 and a 12-month high of $90.29.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.81% and a return on equity of 19.77%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. On average, sell-side analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current year.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.569 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.3%. Amdocs’s payout ratio is presently 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.