Analysts Set Amdocs Limited (NASDAQ:DOX) Target Price at $101.83

Amdocs Limited (NASDAQ:DOX) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $101.83.

Several brokerages have issued reports on DOX. Barclays decreased 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, November 14th. Oppenheimer upped their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus started coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.67 on Thursday. The company has a market capitalization of $10.07 billion, a PE ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74. The business has a fifty day moving average price of $88.03 and a 200-day moving average price of $83.96. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.24%. Amdocs’s dividend payout ratio is presently 45.28%.

Institutional Trading of Amdocs

A number of hedge funds have recently bought and sold shares of DOX. Pzena Investment Management LLC increased its holdings in Amdocs by 33.2% during the second quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock valued at $447,287,000 after buying an additional 1,412,826 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 worth $277,818,000 after purchasing an additional 851,022 shares in the last quarter. Vanguard Group Inc. lifted its position in Amdocs by 39.5% during the first 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 in the last quarter. Brandes Investment Partners LP lifted its position in Amdocs by 31.1% during the second 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 in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Amdocs by 36.2% during the second 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. 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.