Amdocs Limited (NASDAQ:DOX) Given Consensus Rating of “Buy” by Brokerages

Amdocs Limited (NASDAQ:DOXGet Free Report) has been assigned an average recommendation of “Buy” from the four research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $108.60.

DOX has been the subject of a number of analyst reports. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barclays boosted their price target on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Citigroup boosted their price target on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Jefferies Financial Group initiated coverage on Amdocs in a report on Friday, December 1st. They issued a “buy” rating and a $105.00 price target for the company.

Get Our Latest Analysis on DOX

Hedge Funds Weigh In On Amdocs

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Amdocs by 2.3% in the 4th quarter. Wellington Management Group LLP now owns 1,318,519 shares of the technology company’s stock valued at $115,885,000 after purchasing an additional 29,202 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Amdocs by 1.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock valued at $5,681,000 after purchasing an additional 1,217 shares during the last quarter. Sierra Summit Advisors LLC acquired a new position in shares of Amdocs in the 4th quarter valued at $346,000. GLOBALT Investments LLC GA acquired a new position in shares of Amdocs in the 4th quarter valued at $3,392,000. Finally, Quarry LP lifted its stake in shares of Amdocs by 168.9% in the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after purchasing an additional 412 shares during the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $92.74 on Friday. 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 company has a market cap of $10.90 billion, a PE ratio of 19.86, a P/E/G ratio of 1.52 and a beta of 0.69. The business has a 50-day simple moving average of $90.94 and a two-hundred day simple moving average of $86.80. Amdocs has a fifty-two week low of $78.38 and a fifty-two week high of $99.75.

Amdocs (NASDAQ:DOXGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.33 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, equities analysts expect that Amdocs will post 5.87 EPS for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.07%. This is an increase from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs’s dividend payout ratio is presently 37.26%.

About Amdocs

(Get Free Report

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.

Further Reading

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