Amdocs (NASDAQ:DOX) Cut to “Buy” at StockNews.com

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

A number of other research firms have also weighed in on DOX. Barclays dropped their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Trading Down 2.0 %

Shares of DOX opened at $83.98 on Thursday. The stock has a market capitalization of $9.87 billion, a P/E ratio of 19.81, a PEG ratio of 1.42 and a beta of 0.74. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04. 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 firm has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $83.95.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. Amdocs’s dividend payout ratio (DPR) is 45.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Trust Co. NA grew its stake in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Amdocs in the 3rd quarter worth about $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Amdocs in the 3rd quarter worth about $55,000. GAMMA Investing LLC lifted its position in Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after acquiring an additional 428 shares during the period. Finally, American National Bank bought a new stake in Amdocs during the second quarter worth about $76,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

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.