Amdocs (NASDAQ:DOX) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Amdocs (NASDAQ:DOX) from a hold rating to a buy rating in a report released on Saturday.

Amdocs Stock Up 1.4%

Shares of Amdocs stock opened at $92.28 on Friday. The firm has a market cap of $10.42 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.47 and a beta of 0.52. The business has a 50-day moving average price of $88.14 and a 200 day moving average price of $87.42. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.61. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The business’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 earnings per share. On average, sell-side analysts forecast that Amdocs will post 6.21 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s dividend payout ratio (DPR) is presently 44.21%.

Hedge Funds Weigh In On Amdocs

Several institutional investors have recently made changes to their positions in DOX. Alyeska Investment Group L.P. grew its holdings in shares of Amdocs by 86.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company’s stock valued at $143,127,000 after purchasing an additional 781,061 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after buying an additional 543,490 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Amdocs during the fourth quarter worth approximately $44,494,000. American Century Companies Inc. boosted its position in shares of Amdocs by 23.5% during the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company’s stock worth $205,219,000 after buying an additional 426,911 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after buying an additional 426,035 shares during the period. 92.02% of the stock is owned by 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.