Amdocs Limited (NASDAQ:DOX) Receives Average Recommendation of "Buy" from Analysts

Amdocs Limited (NASDAQ:DOX - Get Free Report) has been given an average recommendation of "Buy" by the four research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $108.60.

A number of equities research analysts have issued reports on DOX shares. StockNews.com lowered shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, March 15th. Citigroup increased their price objective on shares of Amdocs from $96.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, January 17th. Finally, Barclays increased their price objective on shares of Amdocs from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, February 8th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in Amdocs in the first quarter worth $7,002,000. Raymond James Financial Services Advisors Inc. increased its stake in Amdocs by 6.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company's stock worth $973,000 after purchasing an additional 665 shares during the period. PNC Financial Services Group Inc. increased its stake in Amdocs by 40.5% in the first quarter. PNC Financial Services Group Inc. now owns 13,332 shares of the technology company's stock worth $1,097,000 after purchasing an additional 3,840 shares during the period. Great West Life Assurance Co. Can increased its stake in Amdocs by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 46,252 shares of the technology company's stock worth $4,041,000 after purchasing an additional 1,446 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Amdocs by 6.4% in the first quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company's stock worth $557,000 after purchasing an additional 405 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Performance

Amdocs stock traded down $1.05 during midday trading on Thursday, hitting $88.07. The stock had a trading volume of 578,601 shares, compared to its average volume of 680,246. The firm's fifty day moving average is $91.21 and its two-hundred day moving average is $87.19. The company has a market capitalization of $10.35 billion, a PE ratio of 18.86, a P/E/G ratio of 1.45 and a beta of 0.69. Amdocs has a 52-week low of $78.38 and a 52-week high of $99.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.16. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. On average, research analysts forecast that Amdocs will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, March 29th will be given a dividend of $0.479 per share. This is an increase from Amdocs's previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, March 27th. Amdocs's dividend payout ratio is currently 40.90%.

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.