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

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

A number of other research analysts have also weighed in on DOX. Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Barclays reduced their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Price Performance

DOX stock opened at $87.91 on Wednesday. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The stock’s 50 day moving average price is $86.06 and its 200 day moving average price is $86.56. The firm has a market cap of $9.92 billion, a P/E ratio of 20.40, a PEG ratio of 1.48 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last posted its 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 net margin of 10.19% and a return on equity of 18.89%. On average, sell-side analysts expect that Amdocs will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.527 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. Amdocs’s dividend payout ratio is presently 44.55%.

Institutional Trading of Amdocs

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after buying an additional 127,426 shares during the last quarter. Mirabella Financial Services LLP increased its holdings in shares of Amdocs by 204.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock worth $1,250,000 after buying an additional 9,600 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Amdocs by 7.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after buying an additional 125,654 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Amdocs by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock worth $41,827,000 after buying an additional 9,098 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Amdocs by 34.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock worth $12,733,000 after buying an additional 37,516 shares during the last quarter. 92.02% of the stock is currently 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.