Becker Capital Management Inc. Sells 620,554 Shares of Amdocs Limited (DOX)

Becker Capital Management Inc. cut its stake in Amdocs Limited (NASDAQ:DOX) by 96.2% in the 1st quarter, Holdings Channel reports. The firm owned 24,841 shares of the technology company’s stock after selling 620,554 shares during the quarter. Becker Capital Management Inc.’s holdings in Amdocs were worth $1,344,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Amdocs by 1.6% in the first quarter. Assenagon Asset Management S.A. now owns 13,100 shares of the technology company’s stock worth $709,000 after purchasing an additional 200 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Amdocs by 0.3% in the fourth quarter. Macquarie Group Ltd. now owns 68,943 shares of the technology company’s stock worth $4,039,000 after purchasing an additional 226 shares during the last quarter. Cox Capital Mgt LLC raised its stake in shares of Amdocs by 3.0% in the fourth quarter. Cox Capital Mgt LLC now owns 8,875 shares of the technology company’s stock worth $491,000 after purchasing an additional 256 shares during the last quarter. Smith Moore & CO. raised its stake in shares of Amdocs by 4.5% in the fourth quarter. Smith Moore & CO. now owns 7,185 shares of the technology company’s stock worth $421,000 after purchasing an additional 308 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Amdocs by 47.8% in the first quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock worth $57,000 after purchasing an additional 342 shares during the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

Shares of DOX opened at $60.75 on Friday. The company has a market cap of $8.51 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.79 and a beta of 0.52. Amdocs Limited has a 12 month low of $52.60 and a 12 month high of $70.31.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, May 14th. The technology company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.03. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Amdocs had a return on equity of 15.18% and a net margin of 8.96%. Amdocs’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. As a group, research analysts anticipate that Amdocs Limited will post 4.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, June 27th. Amdocs’s payout ratio is 30.48%.

DOX has been the subject of a number of research analyst reports. ValuEngine downgraded Amdocs from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. BidaskClub downgraded Amdocs from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. decreased their price target on Amdocs from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. Finally, Zacks Investment Research raised Amdocs from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Amdocs has an average rating of “Hold” and a consensus price target of $71.40.

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Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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