Amdocs (NASDAQ:DOX) Upgraded by StockNews.com to Strong-Buy Rating

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

A number of other research analysts have also commented on the stock. Oppenheimer raised their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays decreased their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $101.20.

Amdocs Stock Up 1.5 %

Shares of Amdocs stock opened at $88.14 on Wednesday. The business’s fifty day moving average price is $85.96 and its two-hundred day moving average price is $86.40. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $9.95 billion, a P/E ratio of 20.79, a PEG ratio of 1.47 and a beta of 0.71. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.69% and a net margin of 9.85%. As a group, research analysts forecast that Amdocs will post 6.19 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be paid a dividend of $0.527 per share. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.39%. Amdocs’s dividend payout ratio is currently 44.32%.

Institutional Trading of Amdocs

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in shares of Amdocs by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock valued at $579,632,000 after acquiring an additional 111,357 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock valued at $556,700,000 after purchasing an additional 696,136 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 purchasing an additional 87,801 shares during the last quarter. Wellington Management Group LLP lifted its stake in Amdocs by 0.8% during the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock valued at $186,939,000 after buying an additional 16,580 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake 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 in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

About Amdocs

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.