Brokerages Set Amdocs Limited (NASDAQ:DOX) PT at $101.20

Amdocs Limited (NASDAQ:DOX) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $101.20.

Several equities analysts have commented on DOX shares. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a report on Monday, January 6th. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays cut their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th.

Hedge Funds Weigh In On Amdocs

Hedge funds have recently bought and sold shares of the company. Private Trust Co. NA raised its holdings in shares of 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 acquiring an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Amdocs during the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Amdocs during the third quarter worth $55,000. GAMMA Investing LLC grew its holdings in Amdocs by 115.1% in the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Amdocs in the third quarter valued at approximately $77,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

DOX stock opened at $82.21 on Friday. The company has a market capitalization of $9.66 billion, a PE ratio of 19.39, a P/E/G ratio of 1.46 and a beta of 0.72. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $86.68 and its 200 day moving average price is $85.72. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is 45.28%.

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.