Short Interest in Amdocs Limited (NASDAQ:DOX) Rises By 9.5%

Amdocs Limited (NASDAQ:DOX - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,070,000 shares, a growth of 9.5% from the March 31st total of 1,890,000 shares. Currently, 1.8% of the company's stock are sold short. Based on an average trading volume of 673,100 shares, the short-interest ratio is presently 3.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DOX. Barclays boosted their price target on shares of Amdocs from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Citigroup raised their target price on Amdocs from $96.00 to $104.00 and gave the company a "buy" rating in a report on Wednesday, January 17th. Finally, StockNews.com downgraded Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, March 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $108.60.

Institutional Investors Weigh In On Amdocs

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Amdocs in the 4th quarter worth about $119,694,000. Acadian Asset Management LLC purchased a new stake in Amdocs in the third quarter worth approximately $96,934,000. Invesco Ltd. raised its stake in shares of Amdocs by 31.0% during the third quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company's stock worth $222,153,000 after acquiring an additional 621,962 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Amdocs by 333.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 449,788 shares of the technology company's stock worth $38,003,000 after acquiring an additional 346,071 shares during the last quarter. Finally, Seizert Capital Partners LLC bought a new position in shares of Amdocs during the 4th quarter valued at $28,059,000. 92.02% of the stock is currently owned by institutional investors.

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $0.88 during midday trading on Tuesday, reaching $83.99. The company's stock had a trading volume of 672,458 shares, compared to its average volume of 648,039. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $9.87 billion, a P/E ratio of 17.96, a PEG ratio of 1.38 and a beta of 0.69. The firm has a 50 day moving average price of $89.50 and a 200-day moving average price of $87.41. Amdocs has a 12-month low of $78.38 and a 12-month high of $99.75.

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

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, March 29th were paid a $0.479 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.92 annualized dividend and a yield of 2.28%. This is an increase from Amdocs's previous quarterly dividend of $0.44. Amdocs's dividend payout ratio (DPR) is currently 41.11%.

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.