Amdocs (NASDAQ:DOX) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Amdocs Limited (NASDAQ:DOX) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $62.79 and traded as high as $63.12. Amdocs shares last traded at $62.83, with a volume of 898,469 shares traded.

Wall Street Analyst Weigh In

DOX has been the topic of a number of research analyst reports. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. Weiss Ratings raised shares of Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $86.67.

Amdocs Stock Performance

The firm has a market cap of $6.78 billion, a PE ratio of 14.96, a P/E/G ratio of 1.00 and a beta of 0.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50-day moving average price of $60.60 and a 200 day moving average price of $62.79.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $1.84 EPS for the quarter, hitting the consensus estimate of $1.84. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. Amdocs had a return on equity of 20.28% and a net margin of 9.75%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 earnings per share. Research analysts forecast that Amdocs Limited will post 6.57 earnings per share for the current year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.5690 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.28 annualized dividend and a dividend yield of 3.6%. Amdocs’s dividend payout ratio (DPR) is currently 54.29%.

Institutional Investors Weigh In On Amdocs

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Amdocs by 19.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock worth $226,045,000 after purchasing an additional 571,036 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Amdocs by 3.4% during the third quarter. Pzena Investment Management LLC now owns 14,454,911 shares of the technology company’s stock valued at $826,532,000 after purchasing an additional 469,581 shares in the last quarter. Bank of America Corp DE lifted its holdings in Amdocs by 29.1% in the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock worth $82,375,000 after purchasing an additional 284,435 shares during the period. Renaissance Technologies LLC grew its position in Amdocs by 429.6% in the 1st quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company’s stock valued at $19,043,000 after buying an additional 236,700 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Amdocs by 152.3% during the 2nd quarter. Tidal Investments LLC now owns 272,345 shares of the technology company’s stock valued at $13,764,000 after buying an additional 164,415 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Company Profile

Amdocs Ltd. (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company’s portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.