{
  "docId": "019dd923-622c-750b-8b98-9727cc72301c",
  "docSlug": "778e2cbfbfaa",
  "documentTitle": "Amdocs Limited (DOX)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-01-23 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 108,
  "pageCount": 128,
  "prevPage": 107,
  "nextPage": 109,
  "slideType": "preempt_rebuttal",
  "function": "preempt_rebuttal",
  "density": "dense",
  "nDataPoints": 12,
  "notes": "The slide uses a table to show analyst price targets and recommendations to contrast with the activist's bearish thesis.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "comparison_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-9727cc72301c/108",
  "deckHref": "/decks/019dd923-622c-750b-8b98-9727cc72301c",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-9727cc72301c.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-9727cc72301c#slide-108",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe that the this image is maintained in part by the ambiguity of the Company, which makes it difficult for analysts and investors to dig into the business critically without doing a good deal of homework, and thus limits the amount of pushback that management might face.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0f1e-7015-9027-18ec65a56c02",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Price Target: $73.40",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0f1e-7015-9027-1d2874259877",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.115,
        "w": 0.924,
        "x": 0.038,
        "y": 0.185
      },
      "kind": "paragraph",
      "text": "While not a heavily-followed name, DOX is generally viewed positively by analysts as a sticky, cash-generative business which appears to show steady growth. We believe that the this image is maintained in part by the ambiguity of the Company, which makes it difficult for analysts and investors to dig into the business critically without doing a good deal of homework, and thus limits the amount of pushback that management might face. Analysts value the stock within a relatively narrow range, between $70-77, for ~22% upside on an average price target of ~$73.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9f3517b8-f1d4-4caa-a57d-c8cfe5b50985",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.038,
        "y": 0.79
      },
      "kind": "source-note",
      "text": "Source: Bloomberg",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb2b1824-0a21-4ea3-829b-1e53f766038c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.335,
        "w": 0.924,
        "x": 0.038,
        "y": 0.408
      },
      "kind": "table",
      "text": "Firm, Recommendation, Price Target table showing Oppenheimer, Stifel, Barclays, Baird, J.P. Morgan, and the calculated average.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e3ff8f13-6ad8-4146-b0aa-703c427f6857",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.385,
        "x": 0.307,
        "y": 0.055
      },
      "kind": "title",
      "text": "Sell-Side Bullish On DOX",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f9848e2b-24ca-408b-8130-5719ffccc745",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 111,
      "from": 105,
      "beatId": "49f8f901-cea8-456a-8a1c-93ff122b01a4",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Victory",
      "beatSlug": null,
      "evidence": "The deck concludes with a clear and concise summary of the downside risk in DOX stock",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}