Bank of Nova Scotia Has $14.44 Million Holdings in Amdocs Limited $DOX

Bank of Nova Scotia grew its stake in Amdocs Limited (NASDAQ:DOX) by 117.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,241 shares of the technology company’s stock after acquiring an additional 119,391 shares during the quarter. Bank of Nova Scotia owned 0.20% of Amdocs worth $14,438,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Pzena Investment Management LLC raised its position in shares of Amdocs by 82.6% during the fourth quarter. Pzena Investment Management LLC now owns 12,037,015 shares of the technology company’s stock worth $969,100,000 after purchasing an additional 5,443,766 shares during the period. Alyeska Investment Group L.P. lifted its position in Amdocs by 155.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,110,393 shares of the technology company’s stock worth $169,908,000 after acquiring an additional 1,283,231 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Amdocs by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock valued at $226,045,000 after purchasing an additional 571,036 shares during the period. Squarepoint Ops LLC boosted its position in shares of Amdocs by 469.4% in the fourth quarter. Squarepoint Ops LLC now owns 543,875 shares of the technology company’s stock valued at $43,787,000 after acquiring an additional 448,358 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of Amdocs by 501.1% during the 4th quarter. Voloridge Investment Management LLC now owns 520,494 shares of the technology company’s stock worth $41,905,000 after purchasing an additional 433,907 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 2.5%

Shares of NASDAQ DOX opened at $52.10 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average price of $55.64 and a 200-day moving average price of $65.19. The stock has a market capitalization of $5.62 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.91 and a beta of 0.41. Amdocs Limited has a 1 year low of $49.74 and a 1 year high of $90.29.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 EPS 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 firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is presently 45.60%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Nicolaus dropped 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. Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. KeyCorp assumed coverage on shares of Amdocs in a research report on Monday, June 29th. They issued a “sector weight” rating for the company. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday, July 5th. Finally, Cfra lowered shares of Amdocs to a “sell” rating in a report on Thursday, May 14th. Three investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.67.

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.