Amdocs Limited (NASDAQ:DOX) Sees Large Drop in Short Interest

Amdocs Limited (NASDAQ:DOX) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 2,200,000 shares, a drop of 5.2% from the May 15th total of 2,320,000 shares. Based on an average trading volume of 742,900 shares, the days-to-cover ratio is currently 3.0 days. Currently, 1.9% of the company’s stock are sold short.

Amdocs Price Performance

NASDAQ:DOX opened at $76.01 on Tuesday. The business’s 50-day moving average price is $82.01 and its 200 day moving average price is $87.13. The firm has a market cap of $8.93 billion, a P/E ratio of 17.08, a PEG ratio of 1.32 and a beta of 0.74. Amdocs has a 52-week low of $74.41 and a 52-week high of $99.75. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. As a group, sell-side analysts predict that Amdocs will post 5.72 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be paid a $0.479 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.92 dividend on an annualized basis and a yield of 2.52%. Amdocs’s dividend payout ratio is currently 43.15%.

Hedge Funds Weigh In On Amdocs

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Amdocs during the 4th quarter valued at about $119,694,000. Acadian Asset Management LLC bought a new position in Amdocs in the 3rd quarter worth approximately $96,934,000. Invesco Ltd. increased its position in Amdocs by 31.0% in the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after buying an additional 621,962 shares during the period. Vanguard Group Inc. increased its position in Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after buying an additional 576,168 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Amdocs by 333.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company’s stock worth $38,003,000 after buying an additional 346,071 shares during the period. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DOX. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Citigroup decreased their price target on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Robert W. Baird decreased their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.80.

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.