Amdocs Limited (NASDAQ:DOX) Given Consensus Rating of “Buy” by Brokerages

Amdocs Limited (NASDAQ:DOX) has been given a consensus rating of “Buy” by the four brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $108.60.

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Finally, Citigroup increased their price objective on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th.

Institutional Trading of Amdocs

Several hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Amdocs in the 4th quarter valued at approximately $119,694,000. Acadian Asset Management LLC acquired a new position in shares of Amdocs in the third quarter valued at about $96,934,000. Invesco Ltd. increased its holdings in Amdocs by 31.0% in the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after buying an additional 621,962 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings 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 purchasing an additional 346,071 shares during the period. Finally, Seizert Capital Partners LLC acquired a new position in shares of Amdocs during the 4th quarter worth approximately $28,059,000. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Price Performance

Amdocs stock opened at $84.98 on Monday. The firm has a market capitalization of $9.99 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69. Amdocs has a 12-month low of $78.38 and a 12-month high of $99.75. The firm has a 50-day moving average price of $89.62 and a 200-day moving average price of $87.37. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Amdocs will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, March 29th were given a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.25%. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, March 27th. Amdocs’s payout ratio is presently 40.90%.

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.