Amdocs (NASDAQ:DOX) Earns Buy Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Amdocs (NASDAQ:DOX – Get Rating) in a research report released on Thursday. The firm issued a buy rating on the technology company’s stock.

Several other research analysts also recently commented on the company. Robert W. Baird raised their price objective on Amdocs from $85.00 to $100.00 and gave the stock a neutral rating in a report on Thursday, February 2nd. Oppenheimer lifted their price target on Amdocs from $94.00 to $99.00 and gave the company an outperform rating in a report on Wednesday, February 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of Moderate Buy and an average target price of $98.75.

Amdocs Trading Down 0.4 %

DOX opened at $91.00 on Thursday. The stock’s fifty day moving average is $92.24 and its two-hundred day moving average is $87.34. The company has a market capitalization of $10.99 billion, a P/E ratio of 20.50, a PEG ratio of 1.57 and a beta of 0.65. Amdocs has a 52 week low of $76.79 and a 52 week high of $97.08. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.21.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, March 31st will be issued a $0.435 dividend. The ex-dividend date is Thursday, March 30th. This is an increase from Amdocs’s previous quarterly dividend of $0.40. This represents a $1.74 dividend on an annualized basis and a dividend yield of 1.91%. Amdocs’s dividend payout ratio (DPR) is currently 35.59%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC grew its stake in Amdocs by 0.9% during the 3rd quarter. Nuveen Asset Management LLC now owns 478,931 shares of the technology company’s stock worth $38,051,000 after buying an additional 4,245 shares during the last quarter. BOKF NA grew its stake in Amdocs by 19.6% during the 2nd quarter. BOKF NA now owns 4,928 shares of the technology company’s stock worth $410,000 after buying an additional 808 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Amdocs by 76.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 94,292 shares of the technology company’s stock worth $7,491,000 after buying an additional 40,748 shares during the last quarter. CWM LLC grew its stake in Amdocs by 7.3% during the 3rd quarter. CWM LLC now owns 76,448 shares of the technology company’s stock worth $6,074,000 after buying an additional 5,215 shares during the last quarter. Finally, Korea Investment CORP purchased a new position in Amdocs during the 2nd quarter worth $4,066,000. 88.11% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Company Profile

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Amdocs Ltd. is a holding company, which engages in the provision of software products and services for the communications, entertainment, and media industry service providers. The company was founded in 1988 and is headquartered in Saint Louis, MO.