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

StockNews.com lowered shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

DOX has been the topic of several other reports. Barclays cut their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday. Oppenheimer increased their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Stock Performance

NASDAQ DOX opened at $83.98 on Thursday. The stock has a fifty day simple moving average of $88.16 and a 200-day simple moving average of $83.95. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a market cap of $9.87 billion, a PE ratio of 19.81, a P/E/G ratio of 1.39 and a beta of 0.74. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.28%. Amdocs’s payout ratio is 45.28%.

Institutional Trading of Amdocs

A number of large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its holdings in Amdocs by 1.9% in the third quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock valued at $516,000 after purchasing an additional 109 shares during the period. Private Trust Co. NA boosted its holdings in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Natixis Advisors LLC grew its position in Amdocs by 0.4% during the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock valued at $2,150,000 after acquiring an additional 120 shares during the period. Raymond James Trust N.A. raised its holdings in shares of Amdocs by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after purchasing an additional 129 shares during the period. Finally, Morton Community Bank lifted its stake in shares of Amdocs by 0.4% in the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock valued at $3,185,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds 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.