Amdocs Limited (NASDAQ:DOX) Receives Average Recommendation of “Hold” from Brokerages

Amdocs Limited (NASDAQ:DOX) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $86.6667.

DOX has been the topic of several recent analyst reports. Cfra cut shares of Amdocs to a “sell” rating in a research report on Thursday, May 14th. KeyCorp started coverage on Amdocs in a report on Monday, June 29th. They set a “sector weight” rating on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. Finally, Stifel Nicolaus decreased their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC increased its stake in shares of Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after purchasing an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Amdocs in the fourth quarter valued at $37,000. Los Angeles Capital Management LLC purchased a new position in shares of Amdocs during the 4th quarter valued at $39,000. Advisory Services Network LLC bought a new position in shares of Amdocs during the 3rd quarter worth $42,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Amdocs by 190.2% in the 3rd 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 last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Stock Down 3.2%

Shares of DOX stock traded down $1.80 on Thursday, hitting $55.02. The stock had a trading volume of 58,839 shares, compared to its average volume of 1,298,593. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50 day moving average of $55.20 and a 200 day moving average of $64.49. Amdocs has a 12-month low of $49.74 and a 12-month high of $90.29. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 0.95 and a beta of 0.41.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results 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 net margin of 11.81% and a return on equity of 19.77%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $1.78 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts expect that Amdocs will post 6.56 EPS for the current 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 issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio (DPR) is 45.60%.

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.