Hixon Zuercher LLC Invests $3.29 Million in Amdocs Limited (NASDAQ:DOX)

Hixon Zuercher LLC bought a new stake in Amdocs Limited (NASDAQ:DOX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 37,580 shares of the technology company's stock, valued at approximately $3,287,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in shares of Amdocs in the 1st quarter worth approximately $53,000. Catalyst Capital Advisors LLC bought a new stake in shares of Amdocs during the third quarter worth $55,000. GAMMA Investing LLC increased its stake in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after buying an additional 428 shares in the last quarter. American National Bank bought a new position in shares of Amdocs in the second quarter valued at about $76,000. Finally, Blue Trust Inc. lifted its position in Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock worth $90,000 after buying an additional 174 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

Amdocs Trading Up 2.0 %

DOX stock traded up $1.75 during midday trading on Wednesday, reaching $91.06. The company's stock had a trading volume of 676,756 shares, compared to its average volume of 668,915. The business's 50-day simple moving average is $87.68 and its 200-day simple moving average is $83.75. The stock has a market cap of $10.70 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Amdocs Limited will post 5.67 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price objective for the company. StockNews.com upgraded Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amdocs 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.