Fisher Asset Management LLC Sells 2,553 Shares of Amdocs Limited (NASDAQ:DOX)

Fisher Asset Management LLC decreased its stake in Amdocs Limited (NASDAQ:DOX) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,469 shares of the technology company’s stock after selling 2,553 shares during the quarter. Fisher Asset Management LLC’s holdings in Amdocs were worth $744,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. lifted its position in shares of Amdocs by 8.4% in the third quarter. Xponance Inc. now owns 4,469 shares of the technology company’s stock valued at $378,000 after acquiring an additional 348 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Amdocs by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,599 shares of the technology company’s stock worth $473,000 after purchasing an additional 191 shares during the period. Bank of New York Mellon Corp grew its holdings in Amdocs by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 365,317 shares of the technology company’s stock valued at $30,866,000 after buying an additional 31,676 shares in the last quarter. Strs Ohio purchased a new position in shares of Amdocs in the third quarter worth $10,876,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Amdocs during the third quarter worth $2,436,000. Institutional investors own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Amdocs Stock Down 4.9 %

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

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.24 billion. During the same period last year, the company earned $1.33 EPS. Amdocs’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Amdocs Limited will post 5.87 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.