Amdocs (NASDAQ:DOX) Lowered to “Buy” at StockNews.com

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

Separately, Stifel Nicolaus started coverage on shares of Amdocs in a research note on Wednesday. They issued a buy rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $102.00.

Amdocs Price Performance

NASDAQ DOX opened at $88.19 on Wednesday. The firm’s 50 day moving average is $85.60 and its 200-day moving average is $83.71. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $10.37 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share. Equities research analysts anticipate that Amdocs will post 5.67 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.479 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. Amdocs’s payout ratio is 42.92%.

Hedge Funds Weigh In On Amdocs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its stake in shares of Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after buying an additional 1,412,826 shares during the last quarter. Vanguard Group Inc. raised its holdings in Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares during the period. Brandes Investment Partners LP lifted its position in Amdocs by 31.1% during the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares during the last quarter. Pacer Advisors Inc. lifted its position in Amdocs by 36.2% during the second quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after acquiring an additional 444,966 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Amdocs by 22.7% during the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock worth $126,119,000 after acquiring an additional 258,343 shares during the period. 92.02% of the stock is owned by 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.