Amdocs (NASDAQ:DOX) Hits New 1-Year High – Here’s Why

Shares of Amdocs Limited (NASDAQ:DOX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $95.41 and last traded at $92.28, with a volume of 83676 shares. The stock had previously closed at $91.93.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th.

Amdocs Price Performance

The company has a 50 day moving average price of $90.00 and a 200-day moving average price of $87.89. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.51 and a beta of 0.52. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Amdocs had a net margin of 11.39% and a return on equity of 19.52%. The company’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.56 EPS. As a group, equities research analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders 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 yield of 2.29%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s payout ratio is presently 44.42%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DOX. Farther Finance Advisors LLC lifted its stake in shares of Amdocs by 17.5% in the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock valued at $90,000 after purchasing an additional 147 shares during the period. SBI Securities Co. Ltd. bought a new stake in Amdocs in the fourth quarter worth approximately $41,000. HighTower Advisors LLC lifted its stake in Amdocs by 20.0% in the fourth quarter. HighTower Advisors LLC now owns 15,374 shares of the technology company’s stock valued at $1,309,000 after buying an additional 2,561 shares during the period. Tower Research Capital LLC TRC lifted its stake in Amdocs by 55.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 586 shares of the technology company’s stock valued at $50,000 after buying an additional 208 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Amdocs by 16.1% during the 4th 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 in the last quarter. Institutional investors 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.