Covestor Ltd Boosts Stake in Amdocs Limited (NASDAQ:DOX)

Covestor Ltd grew its position in shares of Amdocs Limited (NASDAQ:DOX) by 48.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,987 shares of the technology company’s stock after acquiring an additional 974 shares during the period. Covestor Ltd’s holdings in Amdocs were worth $261,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in Amdocs during the 3rd quarter worth $55,000. GAMMA Investing LLC grew its stake in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares in the last quarter. American National Bank purchased a new stake in shares of Amdocs during the 2nd quarter valued at about $76,000. Blue Trust Inc. lifted its position in Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after acquiring an additional 174 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Amdocs by 37.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 2,175 shares of the technology company’s stock worth $190,000 after acquiring an additional 598 shares during the period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Up 0.0 %

Shares of Amdocs stock opened at $92.17 on Friday. The stock’s fifty day moving average is $87.92 and its 200-day moving average is $83.83. The firm has a market capitalization of $10.83 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.47 and a beta of 0.74. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company earned $1.41 EPS. The firm’s revenue was up 1.1% on a year-over-year basis. Equities analysts anticipate that Amdocs Limited will post 5.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DOX shares. Stifel Nicolaus initiated coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $102.00.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.