Amdocs (NASDAQ:DOX) Upgraded to Strong-Buy by StockNews.com

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

Separately, Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $102.00.

Amdocs Stock Down 1.0 %

Shares of DOX stock opened at $88.87 on Friday. The stock has a market cap of $10.45 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average is $87.08 and its 200-day moving average is $83.59. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04.

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

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 30th were issued a dividend of $0.479 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.16%. Amdocs’s dividend payout ratio is 42.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Central Pacific Bank Trust Division purchased a new position in Amdocs in the first quarter valued at about $53,000. GAMMA Investing LLC lifted its position in shares of Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after purchasing an additional 428 shares during the last quarter. American National Bank acquired a new position in shares of Amdocs during the 2nd quarter worth about $76,000. Blue Trust Inc. lifted its position in shares of Amdocs by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,138 shares of the technology company’s stock worth $90,000 after purchasing an additional 174 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Amdocs by 24.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,215 shares of the technology company’s stock worth $175,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors 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.