Amdocs (NASDAQ:DOX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a report released on Thursday.

DOX has been the topic of a number of other reports. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Oppenheimer increased their price target on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Trading Down 2.0 %

Shares of NASDAQ DOX opened at $83.98 on Thursday. Amdocs has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $9.87 billion, a P/E ratio of 19.81, a PEG ratio of 1.39 and a beta of 0.74. The stock’s 50 day moving average price is $88.16 and its two-hundred day moving average price is $83.95.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is presently 45.28%.

Institutional Investors Weigh In On Amdocs

A number of institutional investors and hedge funds have recently bought and sold shares of DOX. First Horizon Advisors Inc. raised its holdings in shares of Amdocs by 1.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock worth $516,000 after purchasing an additional 109 shares in the last quarter. Private Trust Co. NA lifted its position in shares of 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 last quarter. Natixis Advisors LLC boosted its stake in shares of Amdocs by 0.4% during the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock worth $2,150,000 after acquiring an additional 120 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Amdocs by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after acquiring an additional 129 shares during the last quarter. Finally, Morton Community Bank raised its position in shares of Amdocs by 0.4% during the third quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock worth $3,185,000 after purchasing an additional 130 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

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.