Short Interest in Amdocs Limited (NASDAQ:DOX) Rises By 15.5%

Amdocs Limited (NASDAQ:DOX) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,950,000 shares, a growth of 15.5% from the January 15th total of 3,420,000 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 714,200 shares, the short-interest ratio is currently 5.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB lifted its position in Amdocs by 8.3% in the fourth quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock worth $141,112,000 after purchasing an additional 127,426 shares during the period. Mirabella Financial Services LLP raised its stake in shares of Amdocs by 204.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 14,302 shares of the technology company’s stock valued at $1,250,000 after buying an additional 9,600 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Amdocs by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 478,137 shares of the technology company’s stock worth $41,827,000 after acquiring an additional 9,098 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Amdocs by 7.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after acquiring an additional 125,654 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Amdocs by 34.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 145,556 shares of the technology company’s stock valued at $12,733,000 after acquiring an additional 37,516 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOX has been the subject of several research reports. Oppenheimer lifted 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. Barclays lowered their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $101.20.

Amdocs Stock Up 1.2 %

Shares of DOX traded up $1.07 during trading hours on Monday, reaching $88.30. The company’s stock had a trading volume of 663,595 shares, compared to its average volume of 632,452. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.41 and a beta of 0.71. The company has a 50 day moving average of $85.89 and a two-hundred day moving average of $86.47. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. As a group, research analysts predict that Amdocs will post 6.21 EPS for the current fiscal year.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 20th. Investors of record on Monday, March 31st will be issued a $0.527 dividend. This is a positive change from Amdocs’s previous quarterly dividend of $0.48. This represents a $2.11 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, March 31st. Amdocs’s payout ratio is 44.55%.

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.