Amdocs (NASDAQ:DOX) Cut to Buy at StockNews.com

StockNews.com lowered shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Separately, Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday. They set a buy rating and a $100.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $102.00.

Amdocs Trading Up 0.0 %

NASDAQ DOX opened at $88.19 on Wednesday. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.37 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. The business’s 50-day moving average price is $85.60 and its two-hundred day moving average price is $83.66.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts expect that Amdocs will post 5.67 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is presently 42.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DOX. Cambridge Investment Research Advisors Inc. raised its stake in Amdocs by 173.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 20,995 shares of the technology company’s stock worth $1,845,000 after buying an additional 13,324 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Amdocs by 43.3% in the 4th quarter. Hsbc Holdings PLC now owns 52,169 shares of the technology company’s stock worth $4,577,000 after purchasing an additional 15,765 shares in the last quarter. Bank of Nova Scotia grew its position in Amdocs by 420.5% in the 4th quarter. Bank of Nova Scotia now owns 26,188 shares of the technology company’s stock valued at $2,302,000 after purchasing an additional 21,157 shares during the period. The Manufacturers Life Insurance Company increased its stake in Amdocs by 4.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 831,979 shares of the technology company’s stock valued at $73,123,000 after purchasing an additional 35,212 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Amdocs by 1.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock worth $5,681,000 after buying an additional 1,217 shares during the last quarter. 92.02% of the stock is owned by 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.