Amdocs Limited (NASDAQ:DOX) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in Amdocs Limited (NASDAQ:DOX) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 33,158 shares of the technology company’s stock after selling 118 shares during the period. Van ECK Associates Corp’s holdings in Amdocs were worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in Amdocs by 1.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,962,197 shares of the technology company’s stock valued at $419,256,000 after purchasing an additional 75,733 shares during the period. Invesco Ltd. increased its holdings in shares of Amdocs by 31.0% in the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after acquiring an additional 621,962 shares during the period. Nordea Investment Management AB lifted its position in Amdocs by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock valued at $180,905,000 after purchasing an additional 38,452 shares during the last quarter. American Century Companies Inc. boosted its stake in Amdocs by 6.2% during the 3rd quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock valued at $167,309,000 after purchasing an additional 115,744 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Amdocs by 5.7% in the third quarter. Wellington Management Group LLP now owns 1,289,317 shares of the technology company’s stock valued at $108,934,000 after purchasing an additional 69,825 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Performance

DOX opened at $84.95 on Tuesday. The business has a 50 day moving average price of $88.82 and a two-hundred day moving average price of $87.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. Amdocs Limited has a 1-year low of $78.38 and a 1-year high of $99.75.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.16. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Research analysts predict that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Barclays increased their price target on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $108.60.

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.