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

New South Capital Management Inc. trimmed its position in shares of Amdocs Limited (NASDAQ:DOX) by 11.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 32,928 shares of the technology company’s stock after selling 4,310 shares during the period. New South Capital Management Inc.’s holdings in Amdocs were worth $2,881,000 at the end of the most recent reporting period.

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

Amdocs Trading Up 0.3 %

Shares of NASDAQ DOX traded up $0.32 during trading on Tuesday, reaching $93.18. The company had a trading volume of 13,085 shares, compared to its average volume of 663,556. The stock has a market cap of $10.95 billion, a P/E ratio of 21.40, a PEG ratio of 1.49 and a beta of 0.74. The company’s fifty day moving average price is $88.04 and its 200-day moving average price is $83.86. 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 Limited has a 12 month low of $74.41 and a 12 month high of $94.04.

Analyst Upgrades and Downgrades

DOX has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target 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 investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and an average price target of $102.00.

About Amdocs

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.