StockNews.com Downgrades Amdocs (NASDAQ:DOX) to Buy

StockNews.com downgraded shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

A number of other research analysts have also issued reports on DOX. 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. Barclays reduced their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Stock Performance

Shares of DOX stock opened at $87.25 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The company has a market cap of $9.85 billion, a PE ratio of 20.24, a PEG ratio of 1.47 and a beta of 0.71. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04. The business’s fifty day simple moving average is $86.22 and its 200-day simple moving average is $86.78.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Analysts expect that Amdocs will post 6.21 earnings per share for the current fiscal year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio (DPR) is 48.72%.

Institutional Investors Weigh In On Amdocs

Several hedge funds have recently added to or reduced their stakes in DOX. Private Trust Co. NA grew its stake in shares of Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the period. Brooklyn Investment Group purchased a new stake in Amdocs during the third quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in Amdocs during the fourth quarter worth $36,000. SBI Securities Co. Ltd. acquired a new stake in Amdocs during the fourth quarter valued at $41,000. Finally, Global Retirement Partners LLC increased its holdings in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after buying an additional 175 shares in the last quarter. 92.02% of the stock is 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.