Executive Wealth Management LLC Purchases 10,466 Shares of Amdocs Limited (NASDAQ:DOX)

Executive Wealth Management LLC lifted its position in shares of Amdocs Limited (NASDAQ:DOX) by 14.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 84,106 shares of the technology company’s stock after purchasing an additional 10,466 shares during the quarter. Executive Wealth Management LLC’s holdings in Amdocs were worth $7,358,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Amdocs by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock worth $90,355,000 after acquiring an additional 63,718 shares during the last quarter. Two Point Capital Management Inc. lifted its stake in Amdocs by 1.0% in the third quarter. Two Point Capital Management Inc. now owns 33,749 shares of the technology company’s stock worth $2,952,000 after purchasing an additional 318 shares during the last quarter. Foster & Motley Inc. boosted its position in Amdocs by 12.3% during the third quarter. Foster & Motley Inc. now owns 30,071 shares of the technology company’s stock valued at $2,631,000 after buying an additional 3,295 shares during the period. Marks Group Wealth Management Inc grew its stake in shares of Amdocs by 1.7% during the third quarter. Marks Group Wealth Management Inc now owns 94,201 shares of the technology company’s stock valued at $8,241,000 after buying an additional 1,619 shares during the last quarter. Finally, Hixon Zuercher LLC purchased a new position in shares of Amdocs in the third quarter worth about $3,287,000. Institutional investors own 92.02% of the company’s stock.

Amdocs Stock Up 0.0 %

Shares of NASDAQ:DOX opened at $92.17 on Friday. The stock’s 50-day moving average is $87.92 and its 200 day moving average is $83.85. The company has a market cap of $10.83 billion, a PE ratio of 21.24, a P/E/G ratio of 1.43 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. Sell-side analysts anticipate that Amdocs Limited will post 5.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DOX shares. Stifel Nicolaus assumed coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $102.00.

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.