Amdocs (NASDAQ:DOX) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

A number of other research firms have also weighed in on DOX. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. Oppenheimer lifted their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays dropped their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Trading Up 0.1 %

DOX opened at $83.67 on Tuesday. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The firm has a market capitalization of $9.83 billion, a PE ratio of 19.73, a P/E/G ratio of 1.46 and a beta of 0.72. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The company’s 50-day moving average is $86.47 and its 200 day moving average is $85.79.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.29%. Amdocs’s payout ratio is currently 45.28%.

Hedge Funds Weigh In On Amdocs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its position in shares of Amdocs by 12.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,603 shares of the technology company’s stock valued at $442,000 after acquiring an additional 610 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Amdocs by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 469,946 shares of the technology company’s stock worth $37,088,000 after acquiring an additional 29,560 shares during the last quarter. Sierra Summit Advisors LLC grew its position in Amdocs by 8.5% in the second quarter. Sierra Summit Advisors LLC now owns 4,323 shares of the technology company’s stock worth $341,000 after acquiring an additional 339 shares in the last quarter. Edgestream Partners L.P. bought a new position in Amdocs in the second quarter valued at $1,542,000. Finally, Sargent Investment Group LLC purchased a new stake in Amdocs during the second quarter valued at about $289,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

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.