Oppenheimer Asset Management Inc. Raises Position in Amdocs Limited (NASDAQ:DOX)

Oppenheimer Asset Management Inc. boosted its stake in Amdocs Limited (NASDAQ:DOX) by 40.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,343 shares of the technology company’s stock after buying an additional 2,680 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Amdocs were worth $513,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DOX. Rockefeller Capital Management L.P. lifted its stake in Amdocs by 138.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 391 shares of the technology company’s stock valued at $28,000 after buying an additional 227 shares in the last quarter. WASHINGTON TRUST Co acquired a new stake in Amdocs in the 1st quarter valued at about $29,000. Great Diamond Partners LLC acquired a new stake in Amdocs in the 4th quarter valued at about $42,000. RMR Wealth Builders acquired a new stake in Amdocs in the 4th quarter valued at about $50,000. Finally, Simon Quick Advisors LLC raised its holdings in Amdocs by 3,402.6% in the 1st quarter. Simon Quick Advisors LLC now owns 1,366 shares of the technology company’s stock valued at $75,000 after acquiring an additional 1,327 shares during the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ DOX opened at $63.25 on Wednesday. The company has a 50 day simple moving average of $61.57 and a 200-day simple moving average of $66.37. The company has a market capitalization of $8.52 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.83 and a beta of 0.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.25 and a quick ratio of 1.25. Amdocs Limited has a 1 year low of $44.05 and a 1 year high of $77.29.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02. Amdocs had a net margin of 11.98% and a return on equity of 16.03%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $1.06 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts expect that Amdocs Limited will post 4.08 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Tuesday, June 30th will be issued a $0.327 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.31 annualized dividend and a yield of 2.07%. Amdocs’s dividend payout ratio (DPR) is presently 32.19%.

A number of analysts have commented on DOX shares. Robert W. Baird increased their price objective on shares of Amdocs from $69.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. ValuEngine upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a report on Monday, March 9th. Oppenheimer increased their price objective on shares of Amdocs from $77.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. TheStreet upgraded shares of Amdocs from a “c+” rating to a “b-” rating in a report on Friday, May 15th. Finally, BidaskClub upgraded shares of Amdocs from a “sell” rating to a “hold” rating in a report on Thursday, April 2nd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $74.83.

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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