StockNews.com Downgrades Amdocs (NASDAQ:DOX) to Buy

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

Several other equities analysts have also recently commented on the stock. Citigroup decreased their price target on shares of Amdocs from $105.00 to $100.00 and set a buy rating for the company in a research report on Thursday, May 9th. Robert W. Baird decreased their price objective on shares of Amdocs from $97.00 to $90.00 and set a neutral rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $102.50.

Amdocs Stock Performance

Shares of DOX stock opened at $84.91 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The stock has a market capitalization of $9.98 billion, a PE ratio of 19.08, a P/E/G ratio of 1.56 and a beta of 0.74. The firm has a 50 day moving average of $83.38 and a two-hundred day moving average of $84.38.

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

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a dividend of $0.479 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.92 annualized dividend and a dividend yield of 2.26%. Amdocs’s dividend payout ratio (DPR) is currently 42.92%.

Institutional Investors Weigh In On Amdocs

Several hedge funds and other institutional investors have recently bought and sold shares of DOX. Pzena Investment Management LLC raised its stake in Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after acquiring an additional 1,412,826 shares in the last quarter. Norges Bank acquired a new stake in Amdocs during the 4th quarter worth $119,694,000. Vanguard Group Inc. raised its stake in Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after acquiring an additional 576,168 shares in the last quarter. Brandes Investment Partners LP raised its stake in Amdocs by 31.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Amdocs by 36.2% during the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock worth $132,253,000 after acquiring an additional 444,966 shares in the last quarter. 92.02% of the stock is currently 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.