Amdocs Limited (NASDAQ:DOX) Sees Large Increase in Short Interest

Amdocs Limited (NASDAQ:DOX) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 1,890,000 shares, an increase of 18.9% from the March 15th total of 1,590,000 shares. Based on an average daily trading volume, of 674,800 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.6% of the company’s stock are short sold.

Amdocs Stock Down 0.8 %

Shares of Amdocs stock opened at $85.04 on Tuesday. Amdocs has a 12-month low of $78.38 and a 12-month high of $99.75. The stock has a market capitalization of $10.00 billion, a P/E ratio of 18.21, a PEG ratio of 1.39 and a beta of 0.69. The stock has a 50 day moving average price of $90.47 and a two-hundred day moving average price of $87.26. 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 (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts expect that Amdocs will post 5.87 earnings per share for the current year.

Amdocs Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, March 29th will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, March 27th. Amdocs’s dividend payout ratio is presently 41.11%.

Wall Street Analyst Weigh In

Several brokerages recently commented on DOX. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Citigroup upped their target price on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays upped their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Amdocs presently has a consensus rating of “Buy” and a consensus price target of $108.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Diversified Trust Co acquired a new position in Amdocs during the fourth quarter worth $3,957,000. Legato Capital Management LLC acquired a new position in Amdocs during the fourth quarter worth $2,260,000. Xponance Inc. raised its stake in Amdocs by 8.4% during the third quarter. Xponance Inc. now owns 4,469 shares of the technology company’s stock worth $378,000 after acquiring an additional 348 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new position in Amdocs during the third quarter worth $403,000. Finally, Financiere des Professionnels Fonds d investissement inc. raised its stake in Amdocs by 1.3% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock worth $860,000 after acquiring an additional 130 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.