Amdocs (NASDAQ:DOX) Hits New 52-Week Low – Here’s Why

Amdocs Limited (NASDAQ:DOX)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $49.74 and last traded at $50.82, with a volume of 88991 shares. The stock had previously closed at $51.22.

Wall Street Analyst Weigh In

DOX has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Stifel Nicolaus reduced their price target on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Cfra cut shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Finally, KeyCorp assumed coverage on shares of Amdocs in a report on Monday, June 29th. They set a “sector weight” rating for the company. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $86.67.

Amdocs Price Performance

The stock has a 50-day simple moving average of $56.03 and a 200 day simple moving average of $65.49. The stock has a market capitalization of $5.51 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.90 and a beta of 0.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98.

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

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.569 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.5%. Amdocs’s payout ratio is 45.60%.

Institutional Trading of Amdocs

A number of institutional investors and hedge funds have recently modified their holdings of the stock. WealthCollab LLC boosted its stake in Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in Amdocs in the fourth quarter worth $37,000. Los Angeles Capital Management LLC acquired a new stake in Amdocs in the fourth quarter worth $39,000. Advisory Services Network LLC bought a new position in shares of Amdocs during the third quarter worth $42,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Amdocs by 190.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after buying an additional 390 shares during the period. 92.02% of the stock is owned by institutional investors.

About Amdocs

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.