Dimensional Fund Advisors LP Has $226.04 Million Stake in Amdocs Limited $DOX

Key Points

• Dimensional Fund Advisors LP increased its Amdocs stake by 19.7% in the first quarter, ending with 3.46 million shares worth about $226.0 million, or 3.21% of the company.
• Analyst sentiment is mixed: recent moves included rating cuts from Cfra and Wall Street Zen, while Stifel trimmed its price target to $71; the stock currently has an average Hold rating with an average target of $86.67.
• Amdocs reported quarterly EPS of $1.78, slightly ahead of estimates, and declared a quarterly dividend of $0.569 per share payable July 31, implying an annualized yield of about 4.5%.

Dimensional Fund Advisors LP raised its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,463,797 shares of the technology company's stock after purchasing an additional 571,036 shares during the quarter. Dimensional Fund Advisors LP owned 3.21% of Amdocs worth $226,045,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in DOX. SEB Asset Management AB bought a new stake in shares of Amdocs in the first quarter valued at about $647,000. Watershed Asset Management L.L.C. bought a new position in Amdocs during the first quarter valued at about $444,000. Bessemer Group Inc. increased its stake in Amdocs by 530.0% during the first quarter. Bessemer Group Inc. now owns 7,623 shares of the technology company's stock valued at $497,000 after acquiring an additional 6,413 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Amdocs in the 1st quarter worth approximately $245,000. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Amdocs by 17.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 125,991 shares of the technology company's stock worth $8,222,000 after acquiring an additional 18,745 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Analysts Set New Price Targets

DOX has been the topic of a number of research reports. Weiss Ratings restated a "hold (c-)" rating on shares of Amdocs in a research report on Friday, May 8th. Cfra cut Amdocs to a "sell" rating in a research report on Thursday, May 14th. Stifel Nicolaus decreased their price target on shares of Amdocs from $88.00 to $71.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. Wall Street Zen lowered shares of Amdocs from a "buy" rating to a "hold" rating in a report on Sunday, July 5th. Finally, KeyCorp started coverage on shares of Amdocs in a research note on Monday, June 29th. They issued a "sector weight" rating for the company. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $86.67.

Amdocs Trading Down 0.7%

DOX stock opened at $50.85 on Friday. Amdocs Limited has a 1-year low of $49.74 and a 1-year high of $90.29. The firm has a market cap of $5.49 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.89 and a beta of 0.41. The business's 50 day moving average is $55.81 and its 200-day moving average is $65.29. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23.

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

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. 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 4.5%. Amdocs's dividend payout ratio (DPR) 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.

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