Amdocs (NASDAQ:DOX) Lifted to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Amdocs (NASDAQ:DOX) from a buy rating to a strong-buy rating in a research note published on Friday.

Amdocs Price Performance

DOX stock opened at $86.94 on Friday. The stock has a 50-day moving average price of $84.25 and a two-hundred day moving average price of $84.11. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The stock has a market cap of $10.22 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. Amdocs’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. Equities analysts forecast that Amdocs will post 5.67 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s payout ratio is 42.92%.

Institutional Investors Weigh In On Amdocs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its holdings in shares of Amdocs by 58.7% in the 4th quarter. Private Advisor Group LLC now owns 5,491 shares of the technology company’s stock valued at $483,000 after acquiring an additional 2,031 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Amdocs by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,456 shares of the technology company’s stock worth $15,069,000 after acquiring an additional 5,211 shares in the last quarter. Principal Securities Inc. acquired a new position in Amdocs during the fourth quarter valued at approximately $63,000. Dimensional Fund Advisors LP grew its stake in Amdocs by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock valued at $176,464,000 after purchasing an additional 94,856 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Amdocs by 16.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,417 shares of the technology company’s stock worth $1,794,000 after purchasing an additional 2,925 shares during the last quarter. 92.02% of the stock is currently 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.