Amdocs (NASDAQ:DOX) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Amdocs (NASDAQ:DOX) from a buy rating to a strong-buy rating in a research note released on Friday.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $86.49 on Friday. The company has a 50 day simple moving average of $84.08 and a two-hundred day simple moving average of $84.24. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 1.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data 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. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that Amdocs will post 5.67 EPS for the current fiscal year.

Amdocs Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be given a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Monday, September 30th. Amdocs’s dividend payout ratio (DPR) is presently 43.15%.

Hedge Funds Weigh In On Amdocs

Several hedge funds and other institutional investors have recently modified their holdings of DOX. Norwood Financial Corp bought a new stake in shares of Amdocs in the first quarter worth $33,000. Central Pacific Bank Trust Division bought a new stake in shares of Amdocs during the 1st quarter valued at about $53,000. Riverview Trust Co bought a new stake in shares of Amdocs during the 1st quarter valued at about $55,000. Quarry LP increased its position in shares of Amdocs by 168.9% during the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after purchasing an additional 412 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Amdocs in the 4th quarter worth approximately $63,000. 92.02% of the stock is owned by institutional investors.

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.