Amdocs (NASDAQ:DOX) Sees Strong Trading Volume – What’s Next?

Amdocs Limited (NASDAQ:DOX) saw unusually-strong trading volume on Tuesday . Approximately 829,669 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 824,973 shares.The stock last traded at $80.01 and had previously closed at $80.10.

Analyst Ratings Changes

Several analysts have recently weighed in on DOX shares. Stifel Nicolaus lowered their target price on shares of Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Wolfe Research restated a “peer perform” rating on shares of Amdocs in a research report on Thursday, November 13th. Bank of America lowered their price objective on Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Amdocs in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.00.

Amdocs Price Performance

The firm has a market cap of $8.78 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.36 and a beta of 0.43. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $79.87 and a 200 day moving average price of $84.61.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.527 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.11 annualized dividend and a yield of 2.6%. Amdocs’s dividend payout ratio (DPR) is presently 41.78%.

Institutional Trading of Amdocs

A number of large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new position in Amdocs in the 3rd quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in Amdocs in the 3rd quarter valued at $26,000. WealthCollab LLC raised its holdings in Amdocs by 94.5% in the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after acquiring an additional 173 shares during the last quarter. Quarry LP boosted its holdings in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in shares of Amdocs in the second quarter valued at $41,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.