Acadian Asset Management LLC Increases Stock Position in Amdocs Limited $DOX

Acadian Asset Management LLC boosted its holdings in Amdocs Limited (NASDAQ:DOX) by 36.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 684,218 shares of the technology company’s stock after purchasing an additional 181,719 shares during the quarter. Acadian Asset Management LLC owned about 0.61% of Amdocs worth $62,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. OneDigital Investment Advisors LLC lifted its holdings in shares of Amdocs by 20.8% during the first quarter. OneDigital Investment Advisors LLC now owns 3,026 shares of the technology company’s stock valued at $277,000 after purchasing an additional 521 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Amdocs by 2.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 521,669 shares of the technology company’s stock worth $47,733,000 after buying an additional 10,645 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Amdocs by 13.2% during the 1st quarter. Allworth Financial LP now owns 1,829 shares of the technology company’s stock valued at $157,000 after acquiring an additional 213 shares during the last quarter. Xponance Inc. grew its stake in shares of Amdocs by 6.0% in the first quarter. Xponance Inc. now owns 5,339 shares of the technology company’s stock worth $489,000 after acquiring an additional 300 shares during the period. Finally, Marks Group Wealth Management Inc lifted its position in Amdocs by 3.5% during the first quarter. Marks Group Wealth Management Inc now owns 93,996 shares of the technology company’s stock valued at $8,601,000 after purchasing an additional 3,164 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 1.1%

Shares of DOX stock opened at $84.57 on Monday. The company’s fifty day simple moving average is $83.50 and its two-hundred day simple moving average is $87.49. Amdocs Limited has a 52 week low of $78.61 and a 52 week high of $95.41. The stock has a market cap of $9.55 billion, a P/E ratio of 17.15, a PEG ratio of 1.40 and a beta of 0.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DOX shares. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Amdocs in a report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Amdocs 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.