Amdocs (NASDAQ:DOX) Downgraded by StockNews.com to “Buy”

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

A number of other research analysts have also recently commented on DOX. Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays dropped their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Amdocs presently has a consensus rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Stock Down 0.6 %

Shares of NASDAQ DOX opened at $87.25 on Friday. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The firm has a 50-day simple moving average of $86.22 and a two-hundred day simple moving average of $86.78. The company has a market cap of $9.85 billion, a P/E ratio of 20.24, a PEG ratio of 1.47 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

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

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.42%. Amdocs’s dividend payout ratio (DPR) is 48.72%.

Institutional Investors Weigh In On Amdocs

Several hedge funds have recently modified their holdings of DOX. Private Trust Co. NA increased its holdings in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the period. Brooklyn Investment Group bought a new stake in Amdocs during the 3rd quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in shares of Amdocs in the 4th quarter valued at $36,000. SBI Securities Co. Ltd. bought a new position in shares of Amdocs in the 4th quarter worth $41,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

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.