Amdocs Limited (NASDAQ:DOX) Given Average Recommendation of “Hold” by Brokerages

Shares of Amdocs Limited (NASDAQ:DOX) have received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $86.6667.

Several brokerages recently commented on DOX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. KeyCorp initiated coverage on shares of Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating on the stock. Stifel Nicolaus dropped their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Cfra downgraded shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen lowered shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Sunday.

Amdocs Stock Performance

Amdocs stock remained flat at $51.75 during trading on Friday. 1,419,706 shares of the company were exchanged, compared to its average volume of 1,703,111. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.90 and a beta of 0.41. The company has a fifty day moving average of $59.12 and a 200-day moving average of $68.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. Amdocs has a 1 year low of $49.79 and a 1 year high of $93.44.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. Analysts anticipate that Amdocs will post 6.56 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.569 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is 45.60%.

Hedge Funds Weigh In On Amdocs

Institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC boosted its position in shares of Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after acquiring an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amdocs during the 4th quarter worth approximately $37,000. Los Angeles Capital Management LLC purchased a new stake in shares of Amdocs during the 4th quarter valued at approximately $39,000. Advisory Services Network LLC acquired a new position in Amdocs in the third quarter valued at approximately $42,000. Finally, CIBC Private Wealth Group LLC grew its position in Amdocs by 190.2% in the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock worth $49,000 after acquiring an additional 390 shares during the period. Hedge funds and other institutional investors 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.