Sierra Summit Advisors LLC Has $607,000 Stock Position in Amdocs Limited (NASDAQ:DOX)

Sierra Summit Advisors LLC increased its holdings in Amdocs Limited (NASDAQ:DOX) by 29.6% during the fourth quarter, HoldingsChannel reports. The fund owned 7,127 shares of the technology company’s stock after acquiring an additional 1,626 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Amdocs were worth $607,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DOX. Nordea Investment Management AB raised its stake in shares of Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after purchasing an additional 127,426 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after buying an additional 125,654 shares in the last quarter. Dudley & Shanley Inc. raised its position in Amdocs by 7.6% in the 3rd quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock valued at $22,905,000 after buying an additional 18,600 shares during the last quarter. Range Financial Group LLC bought a new position in Amdocs during the 4th quarter valued at $1,376,000. Finally, Principal Financial Group Inc. boosted its holdings in Amdocs by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock worth $90,355,000 after acquiring an additional 63,718 shares during the last quarter. 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.20.

Amdocs Stock Performance

Shares of Amdocs stock opened at $83.70 on Monday. The firm has a market capitalization of $9.45 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. 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 business’s fifty day simple moving average is $88.29 and its 200 day simple moving average is $87.46. Amdocs Limited has a 12 month low of $74.41 and a 12 month high of $93.34.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share 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%. As a group, analysts anticipate that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

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

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.