Amdocs (NASDAQ:DOX) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Amdocs (NASDAQ:DOX) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday morning.

Several other equities research analysts also recently weighed in on DOX. Oppenheimer raised their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus assumed coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. Finally, Barclays dropped their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Stock Performance

Shares of Amdocs stock opened at $83.98 on Thursday. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The firm’s 50-day moving average is $88.16 and its 200 day moving average is $83.95.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s payout ratio is currently 45.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DOX. State Board of Administration of Florida Retirement System grew its stake in shares of Amdocs by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock valued at $16,030,000 after purchasing an additional 12,178 shares during the period. Boston Trust Walden Corp grew its position in Amdocs by 17.0% during the second quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after buying an additional 89,726 shares during the period. SG Americas Securities LLC grew its position in Amdocs by 402.4% during the second quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock valued at $12,230,000 after buying an additional 124,122 shares during the period. Sargent Investment Group LLC purchased a new stake in Amdocs during the second quarter valued at approximately $289,000. Finally, Acadian Asset Management LLC raised its position in Amdocs by 22.7% in the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock worth $126,119,000 after acquiring an additional 258,343 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.