Amdocs Limited (NASDAQ:DOX) Receives $108.60 Average Price Target from Brokerages

Shares of Amdocs Limited (NASDAQ:DOX) have been given an average rating of “Buy” by the four ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $108.60.

Several analysts have recently weighed in on DOX shares. Barclays lifted their price objective on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup raised their target price on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th.

Institutional Trading of Amdocs

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of Amdocs during the 4th quarter worth approximately $25,000. Operose Advisors LLC grew its stake in shares of Amdocs by 148.0% during the 3rd quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock worth $26,000 after acquiring an additional 185 shares during the period. Oakworth Capital Inc. purchased a new stake in Amdocs in the 4th quarter worth about $26,000. Norwood Financial Corp bought a new stake in Amdocs in the 1st quarter valued at about $33,000. Finally, VisionPoint Advisory Group LLC boosted its position in Amdocs by 77.7% during the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock worth $42,000 after purchasing an additional 220 shares during the period. Institutional investors own 92.02% of the company’s stock.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $83.90 on Monday. The company has a market capitalization of $9.86 billion, a PE ratio of 17.97, a P/E/G ratio of 1.35 and a beta of 0.70. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs has a twelve month low of $78.38 and a twelve month high of $99.75. The firm has a fifty day simple moving average of $88.95 and a 200 day simple moving average of $87.39.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $1.33 EPS. The business’s quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts forecast that Amdocs will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, March 29th were given a dividend of $0.479 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. Amdocs’s dividend payout ratio (DPR) is currently 41.11%.

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.