Illinois Municipal Retirement Fund Buys 18,745 Shares of Amdocs Limited $DOX

Illinois Municipal Retirement Fund increased its stake in Amdocs Limited (NASDAQ:DOX) by 17.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 125,991 shares of the technology company’s stock after acquiring an additional 18,745 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.12% of Amdocs worth $8,222,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Amundi boosted its stake in shares of Amdocs by 73.0% in the 1st quarter. Amundi now owns 13,778 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 5,816 shares during the last quarter. Millennium Management LLC raised its stake in Amdocs by 458.3% during the first quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock worth $6,135,000 after buying an additional 55,038 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Amdocs by 12.6% in the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock valued at $30,300,000 after buying an additional 37,087 shares during the period. Empowered Funds LLC lifted its holdings in Amdocs by 12.0% in the first quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock valued at $1,462,000 after buying an additional 1,709 shares during the period. Finally, Jane Street Group LLC boosted its position in Amdocs by 195.4% during the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock valued at $10,608,000 after acquiring an additional 76,683 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DOX. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Sunday, July 5th. Stifel Nicolaus cut their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. KeyCorp initiated coverage on Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Finally, Cfra lowered Amdocs to a “sell” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.67.

Amdocs Trading Down 0.5%

NASDAQ:DOX opened at $52.63 on Friday. Amdocs Limited has a 12 month low of $49.79 and a 12 month high of $90.29. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.92 and a beta of 0.41. The firm has a fifty day simple moving average of $56.61 and a two-hundred day simple moving average of $66.21.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. Analysts expect that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.569 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 4.3%. Amdocs’s dividend payout ratio is presently 45.60%.

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.