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

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

A number of other research analysts also recently commented on the company. Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays reduced their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $101.20.

Amdocs Stock Up 1.5 %

NASDAQ DOX opened at $88.14 on Wednesday. The stock has a market cap of $9.95 billion, a PE ratio of 20.79, a P/E/G ratio of 1.47 and a beta of 0.71. The business has a 50 day moving average price of $85.96 and a two-hundred day moving average price of $86.40. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 9.85% and a return on equity of 18.69%. As a group, sell-side analysts predict that Amdocs will post 6.19 EPS for the current fiscal year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders 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 yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio (DPR) is currently 44.32%.

Hedge Funds Weigh In On Amdocs

Several large investors have recently added to or reduced their stakes in DOX. Smartleaf Asset Management LLC lifted its holdings in Amdocs by 199.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company’s stock worth $59,000 after acquiring an additional 457 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Amdocs by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 9,095 shares of the technology company’s stock worth $774,000 after purchasing an additional 274 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Amdocs by 121.5% in the 4th quarter. Private Trust Co. NA now owns 671 shares of the technology company’s stock worth $57,000 after purchasing an additional 368 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Amdocs in the fourth quarter valued at $1,906,000. Finally, Oppenheimer & Co. Inc. lifted its stake in Amdocs by 5.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 43,808 shares of the technology company’s stock valued at $3,730,000 after buying an additional 2,447 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

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.