Amdocs Sees Increased Institutional Interest Amid Revenue Growth

Amdocs Limited (NASDAQ:DOX) saw increased interest from institutional investors during the first quarter. Royal Bank of Canada boosted its position in Amdocs by 14.9% and owned 446,125 shares of the company's stock after buying an additional 57,740 shares.

Other notable buyers included Amundi, which lifted its holdings in shares of Amdocs by 73.0%, and Millennium Management LLC, which grew its holdings in the company by 458.3% during the quarter.

Amdocs reported $1.78 earnings per share for the quarter, beating analysts' estimates. The company's revenue was up 3.9% compared to the same quarter last year. Institutional investors own 92.02% of Amdocs' stock.