Cresset Asset Management LLC Has $213,000 Stake in Amdocs Limited (NASDAQ:DOX)

Cresset Asset Management LLC cut its stake in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 63.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 quarter.

Several other large investors have also recently bought and sold shares of the business. Pzena Investment Management LLC raised its position in Amdocs by 4.3% during 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 buying an additional 270,810 shares during the period. Allspring Global Investments Holdings LLC raised its position in Amdocs by 2.8% during 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 Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company's stock valued at $261,756,000 after buying an additional 426,035 shares during the period. Wellington Management Group LLP raised its position in Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company's stock valued at $228,211,000 after buying an additional 543,490 shares during the period. Finally, Pacer Advisors Inc. raised its position in Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company's stock valued at $154,587,000 after buying an additional 125,654 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Stock Down 0.1%

DOX stock traded down $0.10 during mid-day trading on Thursday, hitting $91.62. The stock had a trading volume of 624,450 shares, compared to its average volume of 683,950. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs Limited has a 1-year low of $74.41 and a 1-year high of $94.61. The company has a fifty day moving average of $87.78 and a 200 day moving average of $87.17. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.47 and a beta of 0.51.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The firm's revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.56 EPS. On average, equities analysts expect that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, June 30th. Amdocs's dividend payout ratio is 44.21%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th.

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.