Pzena Investment Management LLC Increases Stock Position in Amdocs Limited $DOX

Pzena Investment Management LLC lifted its position in Amdocs Limited (NASDAQ:DOX) by 82.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,037,015 shares of the technology company’s stock after purchasing an additional 5,443,766 shares during the quarter. Amdocs accounts for approximately 2.9% of Pzena Investment Management LLC’s holdings, making the stock its 10th biggest holding. Pzena Investment Management LLC owned approximately 11.15% of Amdocs worth $969,100,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DOX. Amundi grew its holdings in shares of Amdocs by 73.0% in the 1st quarter. Amundi now owns 13,778 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 5,816 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Amdocs by 458.3% in 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 last quarter. Goldman Sachs Group Inc. grew 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 grew 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 grew its holdings in shares of Amdocs by 195.4% in the 1st quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after purchasing an additional 76,683 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Performance

Shares of DOX stock opened at $62.36 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 1.06. The stock has a market cap of $6.73 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.96 and a beta of 0.40. The stock has a 50-day moving average of $64.73 and a 200-day moving average of $72.87. Amdocs Limited has a one year low of $59.40 and a one year high of $95.41.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $1.78 EPS. Amdocs’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts expect that Amdocs Limited will post 7.41 earnings per share for the current year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.569 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio is 45.60%.

Wall Street Analyst Weigh In

DOX has been the topic of several analyst reports. Barclays lowered their target price on shares of Amdocs from $111.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Wall Street Zen lowered shares of Amdocs from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Stifel Nicolaus reduced their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Finally, Cfra downgraded shares of Amdocs to a “sell” rating in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Amdocs has an average rating of “Hold” and a consensus target price of $86.67.

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.