Amdocs (NASDAQ:DOX) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Amdocs (NASDAQ:DOX) from a buy rating to a strong-buy rating in a report released on Friday morning.

Several other analysts also recently weighed in on DOX. Citigroup dropped their target price on shares of Amdocs from $105.00 to $100.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Robert W. Baird dropped their target price on Amdocs from $97.00 to $90.00 and set a neutral rating on the stock in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amdocs currently has an average rating of Buy and a consensus price target of $102.50.

Amdocs Trading Down 1.1 %

Shares of DOX stock traded down $0.93 during trading hours on Friday, reaching $83.02. 776,806 shares of the stock were exchanged, compared to its average volume of 720,533. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company’s 50-day moving average price is $80.28 and its 200-day moving average price is $85.27.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that Amdocs will post 5.72 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is currently 42.92%.

Hedge Funds Weigh In On Amdocs

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC increased its position in Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after purchasing an additional 1,412,826 shares during the period. Norges Bank acquired a new stake in Amdocs during the 4th quarter valued at $119,694,000. Vanguard Group Inc. increased its position in Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after buying an additional 576,168 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in shares of Amdocs in the fourth quarter worth $28,059,000. Finally, Acadian Asset Management LLC lifted its position in shares of Amdocs by 22.7% in the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after acquiring an additional 258,343 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

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.