Amdocs (NASDAQ:DOX) Sets New 1-Year High - Here's Why

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th.

Amdocs Stock Performance

The firm has a 50 day moving average of $90.48 and a two-hundred day moving average of $87.98. The stock has a market cap of $10.25 billion, a PE ratio of 19.11, a PEG ratio of 1.50 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16.

Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $1.78 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 business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.56 earnings per share. Research analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Monday, June 30th will be given a dividend of $0.527 per share. The ex-dividend date is Monday, June 30th. This represents a $2.11 dividend on an annualized basis and a yield of 2.32%. Amdocs's dividend payout ratio (DPR) is 44.42%.

Hedge Funds Weigh In On Amdocs

Several large investors have recently modified their holdings of DOX. Quarry LP grew its holdings in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Amdocs by 5.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock valued at $207,000 after buying an additional 124 shares in the last quarter. MAI Capital Management lifted its position in shares of Amdocs by 9.7% during the first quarter. MAI Capital Management now owns 1,625 shares of the technology company's stock worth $149,000 after purchasing an additional 144 shares in the last quarter. Farther Finance Advisors LLC boosted its position in 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 buying an additional 147 shares during the last quarter. Finally, Corbyn Investment Management Inc. MD lifted its position in Amdocs by 0.4% during the 1st quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company's stock valued at $3,556,000 after purchasing an additional 152 shares during the period. Institutional investors own 92.02% of the company's stock.

Amdocs Company Profile

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.