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 report published on Monday.

Several other equities analysts have also issued reports on the company. Oppenheimer raised their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus began coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Finally, Barclays reduced their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $101.20.

Amdocs Trading Up 0.0 %

Shares of Amdocs stock opened at $84.21 on Monday. The company has a fifty day simple moving average of $86.94 and a 200-day simple moving average of $85.61. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.45 and a beta of 0.71.

Amdocs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is presently 45.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sargent Investment Group LLC purchased a new stake in shares of Amdocs during the second quarter worth approximately $289,000. Mirabella Financial Services LLP increased its stake in Amdocs by 204.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after buying an additional 9,600 shares during the period. Victory Capital Management Inc. raised its position in Amdocs by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock worth $41,827,000 after buying an additional 9,098 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of Amdocs by 34.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock worth $12,733,000 after acquiring an additional 37,516 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after acquiring an additional 127,426 shares in the last quarter. 92.02% of the stock is currently 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.