Executive Wealth Management LLC Increases Stake in Amdocs Limited (NASDAQ:DOX)

Executive Wealth Management LLC grew its position in Amdocs Limited (NASDAQ:DOX - Free Report) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,106 shares of the technology company's stock after buying an additional 10,466 shares during the quarter. Executive Wealth Management LLC owned 0.07% of Amdocs worth $7,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Amdocs in the third quarter valued at about $55,000. GAMMA Investing LLC raised its holdings in shares of Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after purchasing an additional 428 shares in the last quarter. American National Bank purchased a new stake in shares of Amdocs in the 2nd quarter worth approximately $76,000. Blue Trust Inc. boosted its stake in shares of Amdocs by 18.0% during the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock valued at $90,000 after purchasing an additional 174 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Amdocs by 24.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,215 shares of the technology company's stock valued at $175,000 after buying an additional 440 shares during the period. Institutional investors own 92.02% of the company's stock.

Wall Street Analysts Forecast Growth

DOX has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price on the stock. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a research report 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $102.00.

Amdocs Stock Performance

DOX stock traded up $0.03 during trading on Friday, reaching $92.17. The company had a trading volume of 492,889 shares, compared to its average volume of 474,845. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.47 and a beta of 0.74. Amdocs Limited has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50-day simple moving average of $87.92 and a 200-day simple moving average of $83.83.

Amdocs (NASDAQ:DOX - Get Free Report) last released 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 the consensus estimate of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. As a group, sell-side analysts expect that Amdocs Limited will post 5.67 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.