Amdocs (NASDAQ:DOX) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Amdocs shares crossed above their 200-day moving average, reaching $60.34 and last trading at $60.24 on volume of 945,571 shares.
• Analyst sentiment remains mixed, with three Buy, three Hold, and one Sell rating; the consensus rating is Hold, with an $86.67 price target.
• Amdocs reported quarterly EPS in line with estimates at $1.84, while revenue rose 2.7% year over year to $1.17 billion. The company also declared a quarterly dividend of $0.569 per share, representing a 3.8% annualized yield.

Amdocs Limited (NASDAQ:DOX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $59.46 and traded as high as $60.34. Amdocs shares last traded at $60.24, with a volume of 945,571 shares traded.

Analyst Ratings Changes

DOX has been the subject of several 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 reaffirmed a "hold (c-)" rating on shares of Amdocs in a research note on Wednesday, August 5th. Finally, KeyCorp started coverage on Amdocs in a research note on Monday, June 29th. They set a "sector weight" rating for the company. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Amdocs has a consensus rating of "Hold" and a consensus price target of $86.67.

Amdocs Trading Up 2.6%

The firm's 50 day simple moving average is $59.63 and its two-hundred day simple moving average is $59.46. The stock has a market capitalization of $6.50 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.94 and a beta of 0.44. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.84. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.18 billion. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The business's revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.5690 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.28 annualized dividend and a yield of 3.8%. Amdocs's dividend payout ratio is presently 54.29%.

Institutional Investors Weigh In On Amdocs

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC lifted its stake in shares of Amdocs by 5.4% in the first quarter. Pzena Investment Management LLC now owns 12,681,089 shares of the technology company's stock valued at $827,568,000 after buying an additional 644,074 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Amdocs by 19.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company's stock valued at $226,045,000 after buying an additional 571,036 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Amdocs during the fourth quarter valued at about $25,506,000. Bank of America Corp DE increased its position in shares of Amdocs by 29.1% during 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 acquiring an additional 284,435 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Amdocs by 429.6% during the first quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company's stock worth $19,043,000 after acquiring an additional 236,700 shares in the last quarter. Institutional investors own 92.02% of the company's stock.

About Amdocs

Amdocs Limited NASDAQ: DOX is a global provider of software and services for communications, media and entertainment companies. Its offerings help service providers manage customer relationships, billing, product catalogs, ordering, network operations and digital experiences across consumer and enterprise markets.

The company provides business support systems and operational support systems, along with cloud-based platforms, artificial intelligence and data solutions, cybersecurity, network services and managed services.

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