Sawgrass Asset Management LLC Raises Holdings in Amdocs Limited (NASDAQ:DOX)

Sawgrass Asset Management LLC boosted its holdings in shares of Amdocs Limited (NASDAQ:DOX) by 57.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,839 shares of the technology company’s stock after acquiring an additional 2,490 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Amdocs were worth $582,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DOX. Allspring Global Investments Holdings LLC increased its holdings in Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after buying an additional 851,022 shares during the period. Pzena Investment Management LLC grew its holdings in Amdocs by 12.3% in the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after purchasing an additional 696,136 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Amdocs by 123.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company’s stock worth $66,409,000 after purchasing an additional 419,045 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amdocs by 1,207.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company’s stock worth $23,768,000 after purchasing an additional 250,918 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Amdocs by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,633,733 shares of the technology company’s stock worth $143,498,000 after purchasing an additional 158,843 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Down 0.4 %

Shares of NASDAQ DOX opened at $85.96 on Thursday. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The stock has a market cap of $9.70 billion, a PE ratio of 19.94, a P/E/G ratio of 1.41 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $85.88 and a 200 day moving average of $86.48.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share (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, sell-side analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The company 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 $0.527 dividend. This is a boost from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.45%. Amdocs’s dividend payout ratio is 44.55%.

Wall Street Analysts Forecast Growth

DOX has been the subject of several research reports. Barclays lowered their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Oppenheimer boosted their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amdocs has an average rating of “Buy” and a consensus target price of $101.20.

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.