Cresset Asset Management LLC Reduces Position in Amdocs Limited (NASDAQ:DOX)

Cresset Asset Management LLC lessened its stake in shares of Amdocs Limited (NASDAQ:DOX) by 63.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,491 shares of the technology company’s stock after selling 4,359 shares during the period. Cresset Asset Management LLC’s holdings in Amdocs were worth $213,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in Amdocs by 7.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after purchasing an additional 125,654 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Amdocs during the 4th quarter worth approximately $41,000. Running Oak Capital LLC grew its position in Amdocs by 8.0% during the 4th quarter. Running Oak Capital LLC now owns 155,013 shares of the technology company’s stock worth $13,198,000 after purchasing an additional 11,497 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Amdocs by 16.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 122,470 shares of the technology company’s stock worth $10,427,000 after purchasing an additional 17,221 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Amdocs by 20.0% during the 4th quarter. HighTower Advisors LLC now owns 15,374 shares of the technology company’s stock worth $1,309,000 after purchasing an additional 2,561 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th.

Amdocs Stock Performance

DOX opened at $91.38 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.47 and a beta of 0.51. Amdocs Limited has a 52-week low of $74.41 and a 52-week high of $94.61. The firm’s fifty day simple moving average is $87.54 and its two-hundred day simple moving average is $87.08.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Amdocs had a net margin of 10.19% and a return on equity of 18.89%. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.56 earnings per share. Equities analysts anticipate that Amdocs Limited will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s dividend payout ratio (DPR) is 44.21%.

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.