Amdocs Limited (NASDAQ:DOX) Given Average Recommendation of “Buy” by Analysts

Shares of Amdocs Limited (NASDAQ:DOX) have been assigned an average recommendation of “Buy” from the four ratings firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $108.60.

A number of research firms have commented on DOX. Citigroup increased their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Finally, Barclays lifted their price target on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th.

Hedge Funds Weigh In On Amdocs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of Amdocs during the 4th quarter valued at about $25,000. Operose Advisors LLC lifted its stake in Amdocs by 148.0% in the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock valued at $26,000 after buying an additional 185 shares in the last quarter. Oakworth Capital Inc. acquired a new position in shares of Amdocs in the fourth quarter valued at approximately $26,000. VisionPoint Advisory Group LLC bought a new stake in shares of Amdocs during the second quarter worth $28,000. Finally, West Tower Group LLC raised its holdings in shares of Amdocs by 75.0% during the fourth quarter. West Tower Group LLC now owns 364 shares of the technology company’s stock worth $32,000 after acquiring an additional 156 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Trading Down 0.3 %

NASDAQ DOX opened at $89.12 on Thursday. The firm’s fifty day moving average is $91.30 and its two-hundred day moving average is $87.19. Amdocs has a one year low of $78.38 and a one year high of $99.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $10.48 billion, a PE ratio of 19.08, a P/E/G ratio of 1.47 and a beta of 0.69.

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

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 2.15%. Amdocs’s dividend payout ratio is presently 41.11%.

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.