Amdocs (NASDAQ:DOX) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Amdocs (NASDAQ:DOX) from a buy rating to a strong-buy rating in a research note released on Monday morning.

A number of other brokerages have also weighed in on DOX. Oppenheimer upped their price target 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. Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. Finally, Barclays dropped their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs has a consensus rating of “Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

DOX stock opened at $84.47 on Monday. The company has a 50-day simple moving average of $87.03 and a 200 day simple moving average of $85.57. The company has a market capitalization of $9.54 billion, a P/E ratio of 19.92, a PEG ratio of 1.45 and a beta of 0.71. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.27%. Amdocs’s dividend payout ratio (DPR) is presently 45.05%.

Institutional Investors Weigh In On Amdocs

Several hedge funds have recently modified their holdings of DOX. Private Trust Co. NA lifted its position in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Amdocs in the third quarter valued at $28,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Amdocs in the third quarter worth $55,000. GAMMA Investing LLC grew its holdings in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Amdocs during the third quarter valued at $77,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

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.