Amdocs Limited (NASDAQ:DOX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Amdocs Limited (NASDAQ:DOX) have been given an average rating of “Moderate Buy” by the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $101.20.

DOX has been the topic of several recent research reports. Oppenheimer upped their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Barclays reduced their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock.

Hedge Funds Weigh In On Amdocs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA increased its position in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group acquired a new position in Amdocs during the third quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new position in Amdocs during the third quarter worth approximately $55,000. GAMMA Investing LLC increased its position in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after purchasing an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Amdocs in the third quarter worth $77,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Up 0.5 %

DOX stock opened at $84.68 on Friday. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a market cap of $9.56 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.37 and a beta of 0.71. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $86.18 and its 200 day moving average price is $85.77.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio is presently 45.28%.

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.