Amdocs (NASDAQ:DOX) Rating Increased to Strong-Buy at StockNews.com

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

Other research analysts have also recently issued research reports about the company. Barclays cut their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Amdocs presently has an average rating of “Buy” and a consensus target price of $101.20.

Amdocs Trading Up 0.4 %

NASDAQ:DOX opened at $84.47 on Monday. The business’s 50-day moving average is $87.03 and its two-hundred day moving average is $85.57. The firm has a market capitalization of $9.54 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 2.27%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 45.05%.

Institutional Investors Weigh In On Amdocs

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its position in Amdocs by 36.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after buying an additional 851,022 shares during the period. Pzena Investment Management LLC grew its position in shares of Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after acquiring an additional 696,136 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares during the period. Pacer Advisors Inc. lifted its position in Amdocs by 36.2% in the 2nd quarter. Pacer Advisors Inc. now owns 1,675,784 shares of the technology company’s stock valued at $132,253,000 after purchasing an additional 444,966 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in Amdocs by 123.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 759,136 shares of the technology company’s stock valued at $66,409,000 after purchasing an additional 419,045 shares during the period. 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.