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

StockNews.com downgraded shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

Several other equities research analysts also recently weighed in on the company. Barclays cut their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Oppenheimer boosted their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment 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, Amdocs currently has a consensus rating of “Moderate Buy” and an average target price of $101.20.

Amdocs Price Performance

Shares of DOX stock opened at $89.60 on Wednesday. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $86.04 and a 200 day simple moving average of $86.54. The company has a market cap of $10.11 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.45 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, sell-side analysts forecast that Amdocs will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, March 31st. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s payout ratio is 44.55%.

Hedge Funds Weigh In On Amdocs

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in Amdocs during the 4th quarter valued at approximately $3,472,000. Vise Technologies Inc. acquired a new stake in shares of Amdocs during the fourth quarter worth $207,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Amdocs by 69.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 459,830 shares of the technology company’s stock worth $39,150,000 after buying an additional 188,129 shares during the last quarter. Vident Advisory LLC lifted its holdings in Amdocs by 12.5% in the fourth quarter. Vident Advisory LLC now owns 11,579 shares of the technology company’s stock valued at $986,000 after buying an additional 1,284 shares during the period. Finally, WBI Investments LLC bought a new stake in Amdocs during the fourth quarter valued at $1,227,000. 92.02% of the stock is currently owned by institutional investors.

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.