Amdocs Limited (NASDAQ:DOX) Sees Significant Drop in Short Interest

Amdocs Limited (NASDAQ:DOX - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 3,740,000 shares, a drop of 18.3% from the March 31st total of 4,580,000 shares. Based on an average daily volume of 764,600 shares, the short-interest ratio is presently 4.9 days. Currently, 3.4% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Amdocs presently has an average rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Stock Down 1.4 %

Shares of DOX traded down $1.23 during mid-day trading on Wednesday, reaching $89.25. The company's stock had a trading volume of 443,785 shares, compared to its average volume of 699,020. The business has a fifty day moving average of $87.10 and a 200 day moving average of $86.98. Amdocs has a 1 year low of $74.41 and a 1 year high of $93.34. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, analysts forecast that Amdocs will post 6.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOX. Alyeska Investment Group L.P. lifted its position in Amdocs by 86.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after purchasing an additional 781,061 shares during the period. Wellington Management Group LLP raised its position in Amdocs by 25.4% in the 4th quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after purchasing an additional 543,490 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Amdocs during the fourth quarter worth $44,494,000. Vanguard Group Inc. increased its position in Amdocs by 16.1% in the 4th quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after acquiring an additional 426,035 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Amdocs by 2,489.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock valued at $32,045,000 after purchasing an additional 361,845 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.