Amdocs (NASDAQ:DOX) Upgraded at StockNews.com

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

A number of other analysts also recently issued reports on DOX. Oppenheimer raised their target price on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Barclays reduced 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. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amdocs has a consensus rating of "Buy" and a consensus price target of $101.20.

Amdocs Price Performance

Shares of DOX traded up $0.01 during mid-day trading on Wednesday, hitting $85.97. 671,265 shares of the company were exchanged, compared to its average volume of 632,452. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The company has a 50 day moving average of $85.94 and a 200-day moving average of $86.45.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Analysts expect that Amdocs will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.45%. This is a boost from Amdocs's previous quarterly dividend of $0.48. Amdocs's dividend payout ratio is presently 48.72%.

Institutional Investors Weigh In On Amdocs

A number of institutional investors have recently made changes to their positions in DOX. Private Trust Co. NA grew 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 purchasing an additional 117 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Amdocs in the third quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Amdocs during the fourth quarter worth $36,000. SBI Securities Co. Ltd. purchased a new position in Amdocs in the fourth quarter valued at $41,000. Finally, Global Retirement Partners LLC grew its stake in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after purchasing an additional 175 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.