Sawgrass Asset Management LLC Sells 2,031 Shares of Amdocs Limited (NASDAQ:DOX)

Sawgrass Asset Management LLC lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,571 shares of the technology company’s stock after selling 2,031 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Amdocs were worth $665,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Amdocs during the 4th quarter valued at $25,000. Operose Advisors LLC grew its position in Amdocs by 148.0% during the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after buying an additional 185 shares during the period. Oakworth Capital Inc. purchased a new stake in Amdocs during the fourth quarter worth about $26,000. VisionPoint Advisory Group LLC raised its position in Amdocs by 77.7% in the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after acquiring an additional 220 shares during the period. Finally, Allworth Financial LP boosted its stake in Amdocs by 16,840.0% in the third quarter. Allworth Financial LP now owns 847 shares of the technology company’s stock valued at $72,000 after acquiring an additional 842 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DOX shares. Barclays raised their price target on shares of Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Citigroup raised their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $108.60.

Amdocs Stock Performance

DOX traded up $0.10 on Tuesday, hitting $85.05. The company’s stock had a trading volume of 668,680 shares, compared to its average volume of 659,086. Amdocs Limited has a 12 month low of $78.38 and a 12 month high of $99.75. The firm has a market cap of $10.00 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The company’s 50 day simple moving average is $88.69 and its 200-day simple moving average is $87.53.

Amdocs (NASDAQ:DOX) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.16. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 earnings per share. Analysts forecast that Amdocs Limited will post 5.87 EPS for the current year.

Amdocs Company 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.