Brokerages Set Amdocs Limited (NASDAQ:DOX) Target Price at $101.83

Shares of Amdocs Limited (NASDAQ:DOX - Get Free Report) have received an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $101.83.

Several brokerages have issued reports on DOX. StockNews.com cut shares of Amdocs from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Oppenheimer lifted their target price 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. Barclays lowered their target price 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. 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 target on the stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in Amdocs by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company's stock worth $579,632,000 after purchasing an additional 111,357 shares during the period. Pzena Investment Management LLC increased its stake in Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company's stock worth $556,700,000 after purchasing an additional 696,136 shares during the period. LSV Asset Management increased its stake in shares of Amdocs by 7.9% during the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company's stock worth $253,109,000 after buying an additional 234,096 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Amdocs by 36.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company's stock worth $277,818,000 after buying an additional 851,022 shares during the period. Finally, Brandes Investment Partners LP increased its stake in shares of Amdocs by 31.1% during the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company's stock worth $178,335,000 after buying an additional 536,359 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $83.73 on Thursday. Amdocs has a one year low of $74.41 and a one year 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. The firm has a fifty day moving average of $88.07 and a 200 day moving average of $83.95. The firm has a market cap of $9.84 billion, a PE ratio of 19.75, a PEG ratio of 1.37 and a beta of 0.74.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.29%. Amdocs's payout ratio is currently 45.28%.

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.