StockNews.com Downgrades Amdocs (NASDAQ:DOX) to Buy

StockNews.com downgraded shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Several other equities research analysts have also recently weighed in on the company. Oppenheimer increased their target price on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Barclays cut their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.20.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $83.67 on Tuesday. The company’s fifty day moving average is $86.47 and its 200 day moving average is $85.79. 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 52 week low of $74.41 and a 52 week high of $94.04. The stock has a market cap of $9.83 billion, a PE ratio of 19.73, a PEG ratio of 1.46 and a beta of 0.72.

Amdocs Dividend Announcement

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

Institutional Trading of Amdocs

Several large investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its stake in shares of Amdocs by 1.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock valued at $516,000 after purchasing an additional 109 shares in the last quarter. Private Trust Co. NA lifted its holdings in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares during the period. Morton Community Bank boosted its position in Amdocs by 0.4% during the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock valued at $3,185,000 after acquiring an additional 130 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Amdocs by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 5,626 shares of the technology company’s stock worth $492,000 after acquiring an additional 175 shares during the period. Finally, First Trust Direct Indexing L.P. raised its position in shares of Amdocs by 7.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,063 shares of the technology company’s stock worth $268,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Amdocs Company Profile

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.