Amdocs (NASDAQ:DOX) Lifted to Strong-Buy at StockNews.com

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

Separately, Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $102.00.

Amdocs Stock Performance

Amdocs stock opened at $88.87 on Friday. The firm has a market capitalization of $10.45 billion, a P/E ratio of 19.97, a PEG ratio of 1.42 and a beta of 0.74. The stock has a fifty day moving average price of $87.08 and a 200 day moving average price of $83.59. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

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

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 30th were given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Institutional Trading of Amdocs

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC increased its position in Amdocs by 33.2% in the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after acquiring an additional 1,412,826 shares during the period. Allspring Global Investments Holdings LLC increased its position in Amdocs by 36.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after acquiring an additional 851,022 shares during the period. Vanguard Group Inc. increased its position in shares of Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after purchasing an additional 576,168 shares during the period. Brandes Investment Partners LP increased its position in shares of Amdocs by 31.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after purchasing an additional 536,359 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Amdocs by 36.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock valued at $132,253,000 after purchasing an additional 444,966 shares during the period. 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.