Amdocs (NASDAQ:DOX) Stock Gets Price Target Cut from Stifel Nicolaus

Amdocs (NASDAQ:DOX) had its target price lowered by Stifel Nicolaus from $71.00 to $46.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Oppenheimer downgraded Amdocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Weiss Ratings upgraded Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Amdocs has an average rating of “Hold” and an average price target of $78.33.

Amdocs Stock Down 4.0%

Shares of NASDAQ DOX traded down $1.74 during trading on Wednesday, hitting $42.09. 4,358,971 shares of the company traded hands, compared to its average volume of 946,788. Amdocs has a fifty-two week low of $40.48 and a fifty-two week high of $85.63. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 9.01, a P/E/G ratio of 1.01 and a beta of 0.42. The business’s fifty day moving average is $59.49 and its 200 day moving average is $61.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.98. Amdocs had a return on equity of 20.28% and a net margin of 9.75%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that Amdocs will post 7.12 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.5690 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Thursday, December 31st. Amdocs’s payout ratio is presently 48.82%.

Institutional Trading of Amdocs

A number of large investors have recently added to or reduced their stakes in DOX. Alpine Bank Wealth Management raised its position in Amdocs by 58.2% in the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company’s stock worth $29,000 after acquiring an additional 184 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Amdocs in the 3rd quarter worth approximately $57,000. Versant Capital Management Inc raised its holdings in shares of Amdocs by 3,340.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company’s stock worth $63,000 after purchasing an additional 1,069 shares during the period. Farther Finance Advisors LLC lifted its stake in Amdocs by 16.4% in the third quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $74,000 after purchasing an additional 182 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Amdocs by 65.7% in the second quarter. GAMMA Investing LLC now owns 1,725 shares of the technology company’s stock valued at $87,000 after purchasing an additional 684 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Company Profile

Amdocs Ltd. (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company’s portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.