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

Amdocs Limited (NASDAQ:DOX) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $101.20.

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

Institutional Trading of Amdocs

A number of hedge funds have recently added to or reduced their stakes in DOX. First Horizon Advisors Inc. raised its stake in Amdocs by 1.9% in the third quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock worth $516,000 after buying an additional 109 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Amdocs by 62.9% in 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. Natixis Advisors LLC raised its position in shares of Amdocs by 0.4% in 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. raised its position 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 in the last quarter. Finally, Morton Community Bank grew its position in shares of Amdocs by 0.4% in the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock worth $3,185,000 after buying an additional 130 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Stock Down 1.3 %

DOX opened at $87.30 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The company has a fifty day moving average price of $88.05 and a 200-day moving average price of $84.51. The firm has a market capitalization of $10.26 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.72. Amdocs has a one year low of $74.41 and a one year high of $94.04.

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 $0.479 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. Amdocs’s dividend payout ratio is currently 45.05%.

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.