Amdocs (NASDAQ:DOX) Cut to Buy at StockNews.com

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

Separately, Stifel Nicolaus assumed coverage on Amdocs in a report on Wednesday. They set a buy rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $102.00.

Amdocs Stock Up 0.0 %

NASDAQ DOX opened at $88.19 on Wednesday. The stock’s 50 day simple moving average is $85.60 and its 200 day simple moving average is $83.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Amdocs has a one year low of $74.41 and a one year high of $94.04. The firm has a market cap of $10.37 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74.

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

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is 42.92%.

Institutional Investors Weigh In On Amdocs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its stake in 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 during the last quarter. Raymond James Trust N.A. boosted its position in shares of Amdocs by 2.3% during the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after purchasing an additional 129 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Amdocs by 1.5% in the 2nd quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock valued at $741,000 after buying an additional 139 shares during the period. New York State Teachers Retirement System increased its position in shares of Amdocs by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock valued at $969,000 after buying an additional 141 shares in the last quarter. Finally, First Affirmative Financial Network increased its position in shares of Amdocs by 5.4% in the 1st quarter. First Affirmative Financial Network now owns 3,085 shares of the technology company’s stock valued at $279,000 after buying an additional 157 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.