Sawgrass Asset Management LLC Trims Stock Position in Amdocs Limited (NASDAQ:DOX)

Sawgrass Asset Management LLC decreased its position in Amdocs Limited (NASDAQ:DOX) by 3.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,349 shares of the technology company’s stock after selling 173 shares during the period. Sawgrass Asset Management LLC’s holdings in Amdocs were worth $380,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Natixis Advisors LLC increased its position in shares of Amdocs by 0.4% during the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock valued at $2,150,000 after acquiring an additional 120 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Amdocs by 2.3% during the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after purchasing an additional 129 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Amdocs by 1.5% in the second quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock valued at $741,000 after acquiring an additional 139 shares during the period. Blue Trust Inc. boosted its stake in Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after purchasing an additional 174 shares during the period. Finally, Private Advisor Group LLC increased its position in Amdocs by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company’s stock valued at $492,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Oppenheimer upped their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective on the stock. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Barclays cut their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Price Performance

Shares of DOX opened at $83.98 on Friday. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The stock has a fifty day moving average price of $88.16 and a 200 day moving average price of $83.95. The company has a market cap of $9.87 billion, a P/E ratio of 19.81, a PEG ratio of 1.39 and a beta of 0.74.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. Amdocs’s payout ratio is 45.28%.

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.