Axxcess Wealth Management LLC Invests $247,000 in Amdocs Limited (NASDAQ:DOX)

Axxcess Wealth Management LLC acquired a new position in Amdocs Limited (NASDAQ:DOX) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,813 shares of the technology company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DOX. Acadian Asset Management LLC bought a new position in shares of Amdocs in the 3rd quarter worth $96,934,000. Invesco Ltd. grew its position in Amdocs by 31.0% in the third 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 in the last quarter. Qube Research & Technologies Ltd increased its stake in Amdocs by 333.7% in the third quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock valued at $38,003,000 after acquiring an additional 346,071 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Amdocs by 39.2% during the third quarter. The Manufacturers Life Insurance Company now owns 796,767 shares of the technology company’s stock valued at $67,319,000 after purchasing an additional 224,518 shares in the last quarter. Finally, Payden & Rygel Investment Group bought a new stake in Amdocs during the third quarter worth about $18,275,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Down 4.9 %

Shares of NASDAQ DOX opened at $81.70 on Friday. The firm’s fifty day moving average is $88.40 and its 200 day moving average is $87.48. Amdocs Limited has a 52 week low of $78.38 and a 52 week high of $99.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.36 and a beta of 0.70.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.33 earnings per share. On average, equities research analysts expect that Amdocs Limited will post 5.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DOX shares. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Citigroup lowered their price objective on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. Robert W. Baird reduced their target price on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Barclays lifted their target price on shares of Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $104.83.

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.