Amdocs (NASDAQ:DOX) Rating Increased 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 report released on Wednesday morning.

Several other equities analysts also recently commented on the stock. Barclays decreased their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment 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. Based on data from MarketBeat.com, Amdocs presently has a consensus rating of “Buy” and an average target price of $101.20.

Amdocs Price Performance

NASDAQ:DOX opened at $85.97 on Wednesday. Amdocs has a one year low of $74.41 and a one year high of $94.04. The company has a market cap of $9.71 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.47 and a beta of 0.71. The firm’s fifty day moving average price is $85.95 and its two-hundred day moving average price is $86.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 9.85% and a return on equity of 18.69%. Equities analysts expect that Amdocs will post 6.19 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be given a dividend of $0.527 per share. This is a boost from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 2.45%. Amdocs’s dividend payout ratio is currently 45.28%.

Institutional Investors Weigh In On Amdocs

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pzena Investment Management LLC lifted its position in Amdocs by 4.3% during the fourth quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after purchasing an additional 270,810 shares during the period. Janus Henderson Group PLC lifted its position in Amdocs by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock worth $579,632,000 after purchasing an additional 111,357 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock worth $274,681,000 after purchasing an additional 87,801 shares during the period. Wellington Management Group LLP lifted its position in Amdocs by 0.8% during the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock worth $186,939,000 after purchasing an additional 16,580 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Amdocs by 7.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after purchasing an additional 125,654 shares during the period. Institutional investors own 92.02% of the company’s stock.

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.