Amdocs Limited (NASDAQ:DOX) Receives $108.60 Average Price Target from Analysts

Shares of Amdocs Limited (NASDAQ:DOX) have been assigned an average recommendation of “Buy” from the four brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $108.60.

A number of analysts have recently issued reports on DOX shares. Barclays boosted their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Citigroup upped their price target on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th.

Amdocs Trading Up 0.3 %

Shares of DOX stock opened at $83.90 on Monday. The firm has a 50-day moving average price of $88.95 and a 200 day moving average price of $87.47. Amdocs has a twelve month low of $78.38 and a twelve month high of $99.75. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.36 and a beta of 0.70. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $1.33 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that Amdocs will post 5.87 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were given a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, March 27th. Amdocs’s dividend payout ratio is presently 41.11%.

Hedge Funds Weigh In On Amdocs

A number of institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Amdocs during the 4th quarter valued at approximately $119,694,000. Acadian Asset Management LLC acquired a new stake in shares of Amdocs during the 3rd quarter valued at approximately $96,934,000. Invesco Ltd. raised its position in shares of Amdocs by 31.0% during the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after acquiring an additional 621,962 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Amdocs by 333.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock valued at $38,003,000 after acquiring an additional 346,071 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in shares of Amdocs during the 4th quarter valued at approximately $28,059,000. 92.02% of the stock is owned by institutional investors and hedge funds.

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.