Amdocs Limited (NASDAQ:DOX) Sees Significant Increase in Short Interest

Amdocs Limited (NASDAQ:DOX) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 3,950,000 shares, an increase of 15.5% from the January 15th total of 3,420,000 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 714,200 shares, the days-to-cover ratio is currently 5.5 days.

Institutional Investors Weigh In On Amdocs

Large investors have recently made changes to their positions in the stock. Private Trust Co. NA grew its position in Amdocs by 62.9% in the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares in the last quarter. Brooklyn Investment Group bought a new position in Amdocs in the third quarter valued at $28,000. Jones Financial Companies Lllp bought a new position in Amdocs in the fourth quarter valued at $36,000. SBI Securities Co. Ltd. bought a new position in Amdocs in the fourth quarter valued at $41,000. Finally, Global Retirement Partners LLC grew its position in Amdocs by 45.6% in the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock valued at $48,000 after purchasing an additional 175 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

DOX has been the subject of a number of research analyst reports. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Oppenheimer upped their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays cut their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amdocs has an average rating of “Buy” and a consensus price target of $101.20.

Amdocs Trading Up 1.2 %

Shares of DOX traded up $1.07 during trading hours on Monday, hitting $88.30. 663,595 shares of the stock traded hands, compared to its average volume of 632,452. The company has a current ratio of 1.16, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The firm has a market capitalization of $9.97 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.71. The business has a fifty day moving average of $85.92 and a 200-day moving average of $86.49.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. Analysts expect that Amdocs will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 20th. Stockholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.39%. Amdocs’s dividend payout ratio is currently 44.55%.

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.