Amdocs Limited (NASDAQ:DOX) Short Interest Up 5.2% in September

Amdocs Limited (NASDAQ:DOX) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 2,810,000 shares, an increase of 5.2% from the August 31st total of 2,670,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 653,400 shares, the short-interest ratio is presently 4.3 days.

Amdocs Stock Performance

NASDAQ:DOX traded down $0.10 during mid-day trading on Tuesday, hitting $87.38. The stock had a trading volume of 572,502 shares, compared to its average volume of 696,170. The company’s 50 day simple moving average is $85.32 and its 200 day simple moving average is $83.71. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.54 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04.

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

Amdocs Announces Dividend

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 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DOX. Norwood Financial Corp acquired a new position in Amdocs in the 1st quarter valued at approximately $33,000. Central Pacific Bank Trust Division acquired a new position in Amdocs during the 1st quarter worth about $53,000. Riverview Trust Co bought a new stake in shares of Amdocs in the 1st quarter valued at about $55,000. Quarry LP increased its stake in shares of Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after buying an additional 412 shares during the period. Finally, American National Bank bought a new position in shares of Amdocs during the second quarter worth about $76,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $102.50.

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.