Sierra Summit Advisors LLC Acquires 1,626 Shares of Amdocs Limited (NASDAQ:DOX)

Sierra Summit Advisors LLC grew its stake in Amdocs Limited (NASDAQ:DOX) by 29.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,127 shares of the technology company’s stock after purchasing an additional 1,626 shares during the period. Sierra Summit Advisors LLC’s holdings in Amdocs were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DOX. Pzena Investment Management LLC increased its holdings in Amdocs by 4.3% in the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock valued at $564,866,000 after purchasing an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Amdocs by 2.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock valued at $274,681,000 after buying an additional 87,801 shares during the period. Vanguard Group Inc. raised its position in shares of Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after acquiring an additional 426,035 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Amdocs by 25.4% in the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after acquiring an additional 543,490 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after acquiring an additional 125,654 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Stock Down 5.2 %

Shares of Amdocs stock opened at $83.70 on Monday. The stock’s 50-day moving average is $88.29 and its 200 day moving average is $87.46. Amdocs Limited has a one year low of $74.41 and a one year high of $93.34. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.47 and a beta of 0.59. 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 (NASDAQ:DOX) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. Equities research analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 31st will be paid a $0.527 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s payout ratio is 48.72%.

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.