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

StockNews.com upgraded shares of Amdocs (NASDAQ:DOX) from a buy rating to a strong-buy rating in a research report released on Thursday.

Separately, Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a buy rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amdocs currently has a consensus rating of Buy and a consensus target price of $102.00.

Amdocs Trading Up 0.5 %

Shares of DOX opened at $88.25 on Thursday. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market cap of $10.37 billion, a PE ratio of 19.83, a P/E/G ratio of 1.42 and a beta of 0.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $85.70 and its 200-day moving average price is $83.54.

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

Amdocs Announces Dividend

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

Institutional Trading of Amdocs

Hedge funds have recently bought and sold shares of the company. Quarry LP raised its holdings in Amdocs by 168.9% during the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after buying an additional 412 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in shares of Amdocs during the fourth quarter valued at about $3,392,000. Sierra Summit Advisors LLC purchased a new stake in shares of Amdocs during the fourth quarter worth about $346,000. Royal London Asset Management Ltd. grew its stake in shares of Amdocs by 1.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock worth $5,681,000 after purchasing an additional 1,217 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Amdocs by 2.3% during the 4th quarter. Wellington Management Group LLP now owns 1,318,519 shares of the technology company’s stock valued at $115,885,000 after purchasing an additional 29,202 shares during the period. 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.