Wall Street Zen Downgrades Amdocs (NASDAQ:DOX) to Hold

Wall Street Zen lowered shares of Amdocs (NASDAQ:DOX) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other research analysts have also recently commented on the stock. Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Amdocs in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and an average target price of $108.00.

Amdocs Stock Up 0.3%

Shares of DOX opened at $82.32 on Friday. Amdocs has a 12 month low of $78.61 and a 12 month high of $95.41. The firm’s 50 day moving average is $85.21 and its 200-day moving average is $87.99. The stock has a market capitalization of $9.29 billion, a PE ratio of 16.70, a P/E/G ratio of 1.37 and a beta of 0.51. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, August 6th. The technology company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a net margin of 11.94% and a return on equity of 19.66%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned $1.62 earnings per share. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts forecast that Amdocs will post 6.21 EPS for the current year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.527 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.6%. Amdocs’s dividend payout ratio (DPR) is currently 42.80%.

Institutional Trading of Amdocs

Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC acquired a new stake in Amdocs in the first quarter valued at approximately $27,000. NBC Securities Inc. acquired a new stake in Amdocs in the first quarter valued at approximately $31,000. Quarry LP boosted its position in Amdocs by 42.2% in the first quarter. Quarry LP now owns 391 shares of the technology company’s stock valued at $36,000 after buying an additional 116 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Amdocs in the first quarter valued at approximately $39,000. Finally, Rossby Financial LCC acquired a new stake in Amdocs in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

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.