Amdocs Limited $DOX Holdings Boosted by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Amdocs stake by 14.1% in the second quarter to 247,521 shares valued at approximately $12.7 million. Institutional investors collectively own 92.02% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $86.67. Ratings include three Buys, three Holds, and one Sell.
• Amdocs reported quarterly EPS of $1.84, matching expectations, while revenue rose 2.7% year over year to $1.17 billion. The company announced a quarterly dividend of $0.569, or $2.28 annualized, representing a 3.7% yield.

TD Waterhouse Canada Inc. lifted its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 247,521 shares of the technology company's stock after purchasing an additional 30,555 shares during the quarter. TD Waterhouse Canada Inc. owned about 0.23% of Amdocs worth $12,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DOX. WealthCollab LLC increased its holdings in shares of Amdocs by 94.5% in the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company's stock worth $29,000 after acquiring an additional 173 shares during the period. BOK Financial Private Wealth Inc. bought a new position in Amdocs in the 4th quarter worth about $37,000. Los Angeles Capital Management LLC acquired a new stake in shares of Amdocs in the fourth quarter valued at approximately $39,000. Advisory Services Network LLC bought a new stake in shares of Amdocs during the third quarter valued at approximately $42,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Amdocs by 190.2% during the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company's stock worth $49,000 after buying an additional 390 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

DOX has been the topic of several analyst reports. KeyCorp began coverage on Amdocs in a research report on Monday, June 29th. They issued a "sector weight" rating on the stock. Cfra lowered Amdocs to a "sell" rating in a research report on Thursday, May 14th. Stifel Nicolaus decreased their price target on Amdocs from $88.00 to $71.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Amdocs in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $86.67.

Amdocs Trading Down 1.7%

NASDAQ:DOX opened at $62.21 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $86.14. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.08 and a beta of 0.42. The stock has a fifty day simple moving average of $56.22 and a 200 day simple moving average of $60.93.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Thursday, August 6th. The technology company reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. Amdocs had a return on equity of 20.28% and a net margin of 9.75%.The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.18 billion. During the same quarter last year, the firm posted $1.72 earnings per share. Amdocs's revenue was up 2.7% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.569 dividend. This represents a $2.28 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Amdocs's dividend payout ratio is presently 54.05%.

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.

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