Amdocs Limited (NASDAQ:DOX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Amdocs Limited (NASDAQ:DOX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $101.20.

DOX has been the subject of a number of research reports. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Monday. Barclays decreased their target price on Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research note on Thursday, November 14th. Oppenheimer boosted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price objective for the company.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. raised its position in Amdocs by 11.1% during the fourth quarter. Fulton Bank N.A. now owns 4,482 shares of the technology company's stock valued at $382,000 after buying an additional 449 shares during the period. Range Financial Group LLC purchased a new position in Amdocs during the 4th quarter valued at about $1,376,000. Nordea Investment Management AB grew its stake in Amdocs by 8.3% during the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company's stock valued at $141,112,000 after acquiring an additional 127,426 shares in the last quarter. Dudley & Shanley Inc. lifted its position in shares of Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company's stock worth $22,905,000 after purchasing an additional 18,600 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Amdocs by 6.6% during the third quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company's stock worth $90,355,000 after purchasing an additional 63,718 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Shares of DOX stock traded down $2.00 during midday trading on Friday, reaching $82.21. 608,037 shares of the company were exchanged, compared to its average volume of 560,405. The company's 50 day moving average price is $86.79 and its two-hundred day moving average price is $85.59. The company has a market cap of $9.28 billion, a P/E ratio of 19.39, a PEG ratio of 1.45 and a beta of 0.71. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20.

Amdocs Announces Dividend

The business 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 dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Tuesday, December 31st. Amdocs's dividend payout ratio is 45.05%.

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.