Amdocs Limited (NASDAQ:DOX) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its holdings in Amdocs Limited (NASDAQ:DOX – Get Rating) by 69.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,935 shares of the technology company’s stock after selling 38,748 shares during the period. Bank of Nova Scotia’s holdings in Amdocs were worth $1,539,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Amdocs during the 1st quarter worth $104,410,000. Bain Capital Public Equity Management II LLC increased its holdings in Amdocs by 36.6% in the 3rd quarter. Bain Capital Public Equity Management II LLC now owns 1,502,481 shares of the technology company’s stock valued at $119,372,000 after purchasing an additional 402,578 shares in the last quarter. Captrust Financial Advisors increased its holdings in Amdocs by 4,097.6% in the 3rd quarter. Captrust Financial Advisors now owns 297,151 shares of the technology company’s stock valued at $23,609,000 after purchasing an additional 290,072 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Amdocs in the 3rd quarter valued at $17,308,000. Finally, Principal Financial Group Inc. increased its holdings in Amdocs by 24.6% in the 4th quarter. Principal Financial Group Inc. now owns 1,085,331 shares of the technology company’s stock valued at $98,657,000 after purchasing an additional 214,544 shares in the last quarter. 88.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on DOX shares. Robert W. Baird increased their price target on Amdocs from $85.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, February 2nd. Barclays upgraded Amdocs from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $100.00 to $115.00 in a report on Tuesday, May 16th. 888 reissued a “reiterates” rating on shares of Amdocs in a research report on Thursday, May 11th. Oppenheimer upped their price objective on shares of Amdocs from $94.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Finally, StockNews.com assumed coverage on shares of Amdocs in a research report on Thursday, May 18th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Amdocs Stock Performance

Shares of DOX stock opened at $94.55 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.59. Amdocs Limited has a one year low of $76.79 and a one year high of $97.08. The company’s 50-day simple moving average is $93.01 and its 200-day simple moving average is $90.89. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.63 and a beta of 0.66.

Amdocs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 30th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.74 annualized dividend and a dividend yield of 1.84%. Amdocs’s payout ratio is 39.64%.

Amdocs Company Profile

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Amdocs Ltd. is a holding company, which engages in the provision of software products and services for the communications, entertainment, and media industry service providers. The company was founded in 1988 and is headquartered in Saint Louis, MO.