M&T Bank Corp Sells 1,194 Shares of Amdocs Limited (NASDAQ:DOX)

M&T Bank Corp reduced its holdings in Amdocs Limited (NASDAQ:DOX) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,043 shares of the technology company’s stock after selling 1,194 shares during the period. M&T Bank Corp’s holdings in Amdocs were worth $2,378,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DOX. Xponance Inc. increased its position in Amdocs by 8.4% in the 3rd quarter. Xponance Inc. now owns 4,469 shares of the technology company’s stock worth $378,000 after buying an additional 348 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Amdocs by 3.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,599 shares of the technology company’s stock valued at $473,000 after purchasing an additional 191 shares during the period. Bank of New York Mellon Corp increased its position in shares of Amdocs by 9.5% during the third quarter. Bank of New York Mellon Corp now owns 365,317 shares of the technology company’s stock valued at $30,866,000 after purchasing an additional 31,676 shares during the period. Strs Ohio bought a new stake in shares of Amdocs during the third quarter valued at approximately $10,876,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Amdocs during the third quarter valued at approximately $2,436,000. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Performance

Shares of NASDAQ:DOX opened at $85.91 on Thursday. The business’s fifty day moving average price is $88.59 and its two-hundred day moving average price is $87.52. Amdocs Limited has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 earnings per share. As a group, analysts predict that Amdocs Limited will post 5.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on DOX. Barclays boosted their price objective on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup boosted their price objective on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $108.60.

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.