New South Capital Management Inc. Sells 4,310 Shares of Amdocs Limited (NASDAQ:DOX)

New South Capital Management Inc. cut its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,928 shares of the technology company’s stock after selling 4,310 shares during the quarter. New South Capital Management Inc.’s holdings in Amdocs were worth $2,881,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in Amdocs by 16.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 23,753 shares of the technology company’s stock worth $2,147,000 after buying an additional 3,336 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Amdocs in the 1st quarter valued at about $821,000. Inspire Advisors LLC bought a new position in Amdocs during the first quarter worth about $240,000. Russell Investments Group Ltd. increased its position in Amdocs by 0.7% during the first quarter. Russell Investments Group Ltd. now owns 640,270 shares of the technology company’s stock worth $57,860,000 after buying an additional 4,527 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Amdocs by 15.0% in the first quarter. Avantax Advisory Services Inc. now owns 7,839 shares of the technology company’s stock valued at $708,000 after buying an additional 1,024 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Amdocs Stock Performance

Shares of Amdocs stock traded up $0.32 during trading on Tuesday, reaching $93.18. The company’s stock had a trading volume of 13,085 shares, compared to its average volume of 663,556. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $88.04 and its 200-day moving average price is $83.86. Amdocs Limited has a 52 week low of $74.41 and a 52 week high of $94.04. The firm has a market cap of $10.95 billion, a PE ratio of 21.40, a P/E/G ratio of 1.49 and a beta of 0.74.

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.