Short Interest in Amdocs Limited (NASDAQ:DOX) Grows By 9.5%

Amdocs Limited (NASDAQ:DOX) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 2,070,000 shares, an increase of 9.5% from the March 31st total of 1,890,000 shares. Based on an average daily trading volume, of 673,100 shares, the short-interest ratio is presently 3.1 days. Approximately 1.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Amdocs

A number of institutional investors have recently modified their holdings of the stock. Bahl & Gaynor Inc. increased its position in Amdocs by 2.6% in the 4th quarter. Bahl & Gaynor Inc. now owns 377,316 shares of the technology company’s stock worth $33,162,000 after purchasing an additional 9,436 shares during the last quarter. New York State Teachers Retirement System bought a new position in Amdocs during the fourth quarter valued at approximately $930,000. Diversified Trust Co acquired a new stake in Amdocs in the fourth quarter valued at approximately $3,957,000. Wedge Capital Management L L P NC lifted its stake in shares of Amdocs by 9.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 917,808 shares of the technology company’s stock valued at $80,666,000 after purchasing an additional 77,833 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in shares of Amdocs in the fourth quarter valued at approximately $2,260,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $84.87 on Tuesday. Amdocs has a 12-month low of $78.38 and a 12-month high of $99.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.21. The company has a market cap of $9.98 billion, a PE ratio of 18.17, a P/E/G ratio of 1.38 and a beta of 0.69. The stock has a 50 day simple moving average of $89.50 and a 200-day simple moving average of $87.41.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating 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 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 firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts forecast that Amdocs will post 5.87 EPS for the current year.

Amdocs Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, March 29th were given a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from Amdocs’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, March 27th. Amdocs’s dividend payout ratio is 41.11%.

About Amdocs

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.