Hixon Zuercher LLC Makes New $3.29 Million Investment in Amdocs Limited (NASDAQ:DOX)

Hixon Zuercher LLC acquired a new stake in Amdocs Limited (NASDAQ:DOX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 37,580 shares of the technology company’s stock, valued at approximately $3,287,000.

A number of other hedge funds have also made changes to their positions in DOX. Pzena Investment Management LLC increased its stake in Amdocs by 33.2% in the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after purchasing an additional 1,412,826 shares during the last quarter. LSV Asset Management raised its stake in Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after acquiring an additional 234,096 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Amdocs by 36.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after acquiring an additional 851,022 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on DOX shares. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. 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 MarketBeat.com, Amdocs presently has an average rating of “Buy” and an average price target of $102.00.

Amdocs Stock Up 0.9 %

Amdocs stock opened at $89.31 on Wednesday. The stock has a 50 day moving average of $87.56 and a two-hundred day moving average of $83.70. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.42 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping 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 firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts expect that Amdocs Limited will post 5.67 earnings per share for the current year.

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.