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

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

Amdocs Price Performance

Shares of DOX stock opened at $86.94 on Friday. The firm’s 50 day moving average price is $84.25 and its two-hundred day moving average price is $84.11. 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 52-week low of $74.41 and a 52-week high of $94.04. The stock has a market cap of $10.22 billion, a PE ratio of 19.54, a PEG ratio of 1.52 and a beta of 0.74.

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

Amdocs Announces Dividend

The company 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 dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Institutional Investors Weigh In On Amdocs

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC grew its holdings in shares of Amdocs by 58.7% in the 4th quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock valued at $483,000 after buying an additional 2,031 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Amdocs by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock valued at $15,069,000 after acquiring an additional 5,211 shares during the period. Principal Securities Inc. bought a new stake in shares of Amdocs in the fourth quarter worth about $63,000. Dimensional Fund Advisors LP raised its position in shares of Amdocs by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after purchasing an additional 94,856 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Amdocs by 16.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,417 shares of the technology company’s stock valued at $1,794,000 after purchasing an additional 2,925 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

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.