Saturna Capital CORP Acquires New Shares in Amdocs Limited (NASDAQ:DOX)

Saturna Capital CORP acquired a new stake in Amdocs Limited (NASDAQ:DOX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,770 shares of the technology company’s stock, valued at approximately $296,000.

Several other hedge funds have also recently added to or reduced their stakes in DOX. Dimensional Fund Advisors LP lifted its stake in Amdocs by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,511,024 shares of the technology company’s stock valued at $88,511,000 after purchasing an additional 40,673 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of Amdocs by 1.6% during the first quarter. State of Alaska Department of Revenue now owns 45,375 shares of the technology company’s stock valued at $2,454,000 after purchasing an additional 703 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Amdocs during the first quarter valued at about $259,000. Raymond James Trust N.A. bought a new position in shares of Amdocs during the first quarter valued at about $208,000. Finally, Pennsylvania Trust Co bought a new position in shares of Amdocs during the first quarter valued at about $12,241,000. Hedge funds and other institutional investors own 90.70% of the company’s stock.

DOX stock traded up $0.41 during mid-day trading on Tuesday, hitting $64.06. The company had a trading volume of 308,498 shares, compared to its average volume of 589,208. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.87 and a beta of 0.41. Amdocs Limited has a 12 month low of $52.60 and a 12 month high of $67.57. The firm’s fifty day moving average is $63.13.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Amdocs had a net margin of 9.90% and a return on equity of 15.73%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. On average, sell-side analysts forecast that Amdocs Limited will post 4.05 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 27th. Amdocs’s dividend payout ratio is 30.48%.

A number of research firms recently weighed in on DOX. BidaskClub raised shares of Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday. ValuEngine raised shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price objective on shares of Amdocs from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Zacks Investment Research lowered shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price objective on the stock. in a research report on Tuesday, July 16th. Finally, TheStreet raised shares of Amdocs from a “c+” rating to a “b-” rating in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $71.00.

About Amdocs

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.

Further Reading: Bid-Ask Spread

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Institutional Ownership by Quarter for Amdocs (NASDAQ:DOX)

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