Great West Life Assurance Co. Can purchased a new stake in shares of Amdocs Limited (NASDAQ:DOX – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,338 shares of the technology company’s stock, valued at approximately $3,676,000.
Other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA bought a new stake in Amdocs during the second quarter valued at about $36,000. Exchange Traded Concepts LLC bought a new stake in shares of Amdocs in the third quarter valued at about $49,000. Riverview Trust Co lifted its stake in shares of Amdocs by 32.8% in the third quarter. Riverview Trust Co now owns 611 shares of the technology company’s stock valued at $49,000 after buying an additional 151 shares during the period. Ronald Blue Trust Inc. lifted its stake in shares of Amdocs by 262.7% in the third quarter. Ronald Blue Trust Inc. now owns 845 shares of the technology company’s stock valued at $70,000 after buying an additional 612 shares during the period. Finally, Zions Bancorporation N.A. bought a new stake in shares of Amdocs in the first quarter valued at about $83,000. 88.11% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of Amdocs to $100.00 in a research note on Tuesday, November 15th. Citigroup reduced their target price on shares of Amdocs from $99.00 to $96.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Robert W. Baird reduced their target price on shares of Amdocs to $85.00 in a research note on Tuesday, November 15th. Oppenheimer reissued an “outperform” rating and issued a $84.00 price target on shares of Amdocs in a research report on Thursday, November 10th. Finally, StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 11th.
Amdocs Stock Performance
Amdocs (NASDAQ:DOX – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Amdocs had a net margin of 12.01% and a return on equity of 16.62%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. Research analysts anticipate that Amdocs Limited will post 5.3 earnings per share for the current fiscal year.
Amdocs Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, December 30th will be issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, December 29th. Amdocs’s payout ratio is 35.59%.
Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES21, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; the Commerce and Care suite for order capture, handling, and customer engagement; the Monetization suite for charging, billing, policy, and revenue management; Intelligent Networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; MarketONE, a cloud-native business ecosystem; Digital Brands Suite, a pre-integrated digital business suite for digital telecom brands and small-scale service providers; and eSIM Cloud for service providers.
- Get a free copy of the StockNews.com research report on Amdocs (DOX)
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