Van ECK Associates Corp Sells 118 Shares of Amdocs Limited (NASDAQ:DOX)

Van ECK Associates Corp reduced its position in Amdocs Limited (NASDAQ:DOX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,158 shares of the technology company’s stock after selling 118 shares during the quarter. Van ECK Associates Corp’s holdings in Amdocs were worth $2,914,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. boosted its position in Amdocs by 1.3% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock valued at $860,000 after buying an additional 130 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Amdocs by 6.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,448 shares of the technology company’s stock worth $207,000 after purchasing an additional 145 shares in the last quarter. CI Investments Inc. boosted its position in Amdocs by 0.7% in the 3rd quarter. CI Investments Inc. now owns 21,000 shares of the technology company’s stock worth $1,774,000 after purchasing an additional 152 shares in the last quarter. Balentine LLC raised its stake in shares of Amdocs by 5.3% during the 3rd quarter. Balentine LLC now owns 3,050 shares of the technology company’s stock worth $258,000 after buying an additional 153 shares during the period. Finally, Wahed Invest LLC raised its stake in shares of Amdocs by 9.8% during the 3rd quarter. Wahed Invest LLC now owns 1,870 shares of the technology company’s stock worth $158,000 after buying an additional 167 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on DOX. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Citigroup upped their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays upped their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $108.60.

Amdocs Stock Up 1.3 %

NASDAQ DOX opened at $84.95 on Tuesday. The business has a fifty day moving average price of $88.82 and a 200 day moving average price of $87.50. Amdocs Limited has a one year low of $78.38 and a one year high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $9.99 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.36 and a beta of 0.70.

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

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.