Sawgrass Asset Management LLC Boosts Stake in Amdocs Limited (NASDAQ:DOX)

Sawgrass Asset Management LLC increased its stake in Amdocs Limited (NASDAQ:DOX) by 57.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,839 shares of the technology company’s stock after buying an additional 2,490 shares during the period. Sawgrass Asset Management LLC’s holdings in Amdocs were worth $582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA lifted its holdings in shares of Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the period. Brooklyn Investment Group purchased a new stake in Amdocs in the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC purchased a new stake in Amdocs in the 3rd quarter worth $55,000. GAMMA Investing LLC increased its stake in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after buying an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Amdocs in the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Stock Down 0.4 %

Shares of NASDAQ DOX opened at $85.96 on Thursday. The firm has a 50-day simple moving average of $85.88 and a two-hundred day simple moving average of $86.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $94.04. The company has a market cap of $9.70 billion, a P/E ratio of 19.94, a PEG ratio of 1.41 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. Research analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is currently 44.55%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DOX. Barclays cut their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One 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 target price of $101.20.

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.