Amdocs Limited (NASDAQ:DOX) Receives $101.83 Consensus Price Target from Analysts

Shares of Amdocs Limited (NASDAQ:DOX) have been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $101.83.

A number of brokerages have issued reports on DOX. Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th.

Amdocs Price Performance

NASDAQ:DOX opened at $87.30 on Thursday. Amdocs has a one year low of $74.41 and a one year high of $94.04. The stock has a market cap of $10.26 billion, a PE ratio of 20.63, a P/E/G ratio of 1.43 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The stock has a 50 day moving average price of $88.03 and a 200 day moving average price of $83.94.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 2.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is presently 45.05%.

Institutional Trading of Amdocs

Several institutional investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA boosted its holdings in Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after acquiring an additional 117 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Amdocs during the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs in the third quarter valued at approximately $55,000. GAMMA Investing LLC grew its holdings in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after purchasing an additional 428 shares in the last quarter. Finally, American National Bank purchased a new stake in Amdocs during the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds 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.