Russell Investments Group Ltd. Acquires 136,710 Shares of Amdocs Limited (NASDAQ:DOX)

Russell Investments Group Ltd. lifted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 74.5% during the 3rd quarter, Holdings Channel reports. The firm owned 320,329 shares of the technology company’s stock after purchasing an additional 136,710 shares during the period. Russell Investments Group Ltd.’s holdings in Amdocs were worth $21,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DOX. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of Amdocs during the second quarter worth approximately $47,000. Morgan Dempsey Capital Management LLC increased its stake in Amdocs by 110.0% in the second quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock valued at $56,000 after acquiring an additional 474 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Amdocs in the second quarter valued at approximately $60,000. CENTRAL TRUST Co increased its stake in Amdocs by 56.2% in the second quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock valued at $69,000 after acquiring an additional 395 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Amdocs in the second quarter valued at approximately $73,000. 92.32% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on DOX. JPMorgan Chase & Co. lifted their price objective on shares of Amdocs from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Zacks Investment Research cut shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price objective on the stock. in a research note on Tuesday, July 16th. Finally, BidaskClub cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $71.00.

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NASDAQ:DOX traded up $0.62 during mid-day trading on Friday, reaching $67.12. The stock had a trading volume of 695,600 shares, compared to its average volume of 839,539. The stock has a market capitalization of $9.20 billion, a PE ratio of 17.95, a P/E/G ratio of 1.81 and a beta of 0.39. The stock has a 50-day simple moving average of $65.80 and a two-hundred day simple moving average of $62.67. Amdocs Limited has a 12 month low of $52.60 and a 12 month high of $67.57.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, beating 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 15.70%. Amdocs’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Sell-side analysts expect that Amdocs Limited will post 4.05 earnings per share for the current fiscal year.

Amdocs 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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