Amdocs (NASDAQ:DOX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Amdocs (NASDAQ:DOX) from a hold rating to a buy rating in a research report released on Saturday.

Amdocs Trading Up 0.1%

Shares of DOX stock opened at $92.39 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm has a market capitalization of $10.43 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The stock has a fifty day moving average of $88.14 and a two-hundred day moving average of $87.46. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.61.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted $1.56 earnings per share. The company’s revenue was down 9.4% on a year-over-year basis. As a group, research analysts expect that Amdocs will post 6.21 EPS for the current year.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be paid a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s dividend payout ratio is currently 44.21%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DOX. Cornerstone Planning Group LLC acquired a new position in Amdocs in the 1st quarter worth about $27,000. AdvisorNet Financial Inc grew its holdings in Amdocs by 382.9% in the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company’s stock valued at $31,000 after buying an additional 268 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Amdocs in the 1st quarter worth approximately $31,000. Jones Financial Companies Lllp bought a new stake in shares of Amdocs in the 4th quarter worth approximately $36,000. Finally, Quarry LP lifted its position in shares of Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after acquiring an additional 116 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

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.