SummitTX Capital L.P. Has $392,000 Stock Position in Amdocs Limited $DOX

SummitTX Capital L.P. lowered its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 90.9% during the first quarter, Holdings Channel reports. The firm owned 6,008 shares of the technology company’s stock after selling 59,933 shares during the period. SummitTX Capital L.P.’s holdings in Amdocs were worth $392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TABR Capital Management LLC bought a new stake in shares of Amdocs during the 4th quarter worth about $2,398,000. BNP Paribas Financial Markets raised its stake in shares of Amdocs by 85.4% in the 4th quarter. BNP Paribas Financial Markets now owns 201,982 shares of the technology company’s stock valued at $16,262,000 after acquiring an additional 93,036 shares in the last quarter. Aberdeen Group plc raised its stake in shares of Amdocs by 13.2% in the 4th quarter. Aberdeen Group plc now owns 263,287 shares of the technology company’s stock valued at $21,197,000 after acquiring an additional 30,723 shares in the last quarter. Arbejdsmarkedets Tillaegspension lifted its holdings in Amdocs by 17.5% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 354,383 shares of the technology company’s stock worth $23,127,000 after purchasing an additional 52,906 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Amdocs by 13.9% during the first quarter. First Trust Advisors LP now owns 1,077,258 shares of the technology company’s stock worth $70,302,000 after purchasing an additional 131,197 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

DOX opened at $55.72 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $54.92 and its two-hundred day moving average price is $64.23. The firm has a market capitalization of $6.01 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.96 and a beta of 0.41. Amdocs Limited has a 12-month low of $49.74 and a 12-month high of $90.29.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, topping 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 analyst estimates of $1.17 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were paid a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a yield of 4.1%. The ex-dividend date was Tuesday, June 30th. Amdocs’s dividend payout ratio is presently 45.40%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Stifel Nicolaus reduced their price objective on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. KeyCorp assumed coverage on shares of Amdocs in a research note on Monday, June 29th. They issued a “sector weight” rating on the stock. Finally, Cfra downgraded shares of Amdocs to a “sell” rating in a report on Thursday, May 14th. 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.com, the company currently has an average rating of “Hold” and an average price target of $86.67.

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.