Royal Bank of Canada Acquires 57,740 Shares of Amdocs Limited $DOX

Royal Bank of Canada lifted its holdings in Amdocs Limited (NASDAQ:DOX) by 14.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 446,125 shares of the technology company’s stock after purchasing an additional 57,740 shares during the period. Royal Bank of Canada’s holdings in Amdocs were worth $29,114,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOX. Quantinno Capital Management LP increased its holdings in Amdocs by 58.5% during the first quarter. Quantinno Capital Management LP now owns 215,907 shares of the technology company’s stock valued at $14,090,000 after buying an additional 79,664 shares during the period. Lazard Asset Management LLC lifted its holdings in Amdocs by 5.6% during the first quarter. Lazard Asset Management LLC now owns 34,350 shares of the technology company’s stock worth $2,242,000 after buying an additional 1,808 shares during the period. Rice Hall James & Associates LLC boosted its position in Amdocs by 3.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 238,140 shares of the technology company’s stock valued at $15,541,000 after acquiring an additional 8,118 shares in the last quarter. Entropy Technologies LP boosted its position in Amdocs by 59.0% during the 1st quarter. Entropy Technologies LP now owns 41,757 shares of the technology company’s stock valued at $2,725,000 after acquiring an additional 15,496 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Amdocs by 429.6% in the 1st quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company’s stock valued at $19,043,000 after acquiring an additional 236,700 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Amdocs Trading Up 2.4%

Shares of NASDAQ:DOX opened at $56.72 on Wednesday. The business’s 50-day moving average is $54.66 and its 200 day moving average is $63.71. 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 1 year low of $49.74 and a 1 year high of $90.29. The firm has a market capitalization of $6.12 billion, a P/E ratio of 11.34, a P/E/G ratio of 0.96 and a beta of 0.40.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $1.78 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts predict that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Amdocs’s 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.