Amdocs Limited (NASDAQ:DOX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Amdocs Limited (NASDAQ:DOX) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $101.20.

DOX has been the topic of several research analyst reports. StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Barclays cut their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock.

Amdocs Price Performance

Amdocs stock opened at $84.68 on Friday. The stock has a market cap of $9.56 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.71. The company has a fifty day simple moving average of $86.18 and a 200-day simple moving average of $85.77. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21.

Amdocs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

Institutional Trading of Amdocs

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Trust Co. NA boosted its holdings in shares of Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Amdocs in the third quarter valued at about $28,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Amdocs in the third quarter valued at about $55,000. GAMMA Investing LLC boosted its holdings in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after acquiring an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Amdocs in the third quarter valued at about $77,000. Hedge funds and other institutional investors 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.