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

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

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

Amdocs Trading Up 0.5 %

Shares of NASDAQ:DOX opened at $88.25 on Thursday. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.37 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The firm has a fifty day moving average of $85.70 and a two-hundred day moving average of $83.59.

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

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Institutional Investors Weigh In On Amdocs

A number of large investors have recently added to or reduced their stakes in the stock. Norwood Financial Corp acquired a new stake in shares of Amdocs in the first quarter worth $33,000. Central Pacific Bank Trust Division bought a new position in Amdocs in the 1st quarter worth $53,000. Riverview Trust Co acquired a new position in Amdocs during the 1st quarter worth $55,000. Quarry LP boosted its holdings in Amdocs by 168.9% during the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after acquiring an additional 412 shares during the period. Finally, GAMMA Investing LLC grew its position 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 purchasing an additional 428 shares during the last quarter. 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.