Amdocs (NASDAQ:DOX) Sees Strong Trading Volume – Still a Buy?

Amdocs Limited (NASDAQ:DOX) saw strong trading volume on Tuesday . 829,669 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 824,973 shares.The stock last traded at $80.01 and had previously closed at $80.10.

Analysts Set New Price Targets

DOX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Amdocs from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus dropped their target price on Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Amdocs in a report on Thursday, October 30th. Wolfe Research restated a “peer perform” rating on shares of Amdocs in a report on Thursday, November 13th. Finally, Bank of America reduced their target price on Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.00.

Amdocs Stock Performance

The company has a fifty day moving average of $79.96 and a two-hundred day moving average of $84.71. The stock has a market capitalization of $8.68 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.36 and a beta of 0.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.17 and a quick ratio of 1.17.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a $0.527 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, December 31st. Amdocs’s payout ratio is 41.78%.

Hedge Funds Weigh In On Amdocs

A number of hedge funds have recently added to or reduced their stakes in DOX. Northern Trust Corp raised its holdings in shares of Amdocs by 4.5% during the first quarter. Northern Trust Corp now owns 920,723 shares of the technology company’s stock worth $84,246,000 after purchasing an additional 39,915 shares during the period. APG Asset Management N.V. grew its position in shares of Amdocs by 3.4% during the 1st quarter. APG Asset Management N.V. now owns 61,300 shares of the technology company’s stock valued at $5,193,000 after buying an additional 2,000 shares during the last quarter. SVB Wealth LLC acquired a new stake in Amdocs during the first quarter worth about $43,000. Synovus Financial Corp bought a new position in Amdocs in the first quarter worth about $463,000. Finally, Jane Street Group LLC lifted its holdings in Amdocs by 195.4% in the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after acquiring an additional 76,683 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.