Amdocs Limited to Issue Quarterly Dividend of $0.53 (NASDAQ:DOX)

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Tuesday, November 11th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.527 per share by the technology company on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, December 31st.

Amdocs has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 14 years. Amdocs has a payout ratio of 27.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amdocs to earn $6.82 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 30.8%.

Amdocs Stock Performance

Shares of DOX stock traded down $5.38 during trading hours on Wednesday, reaching $78.58. 2,814,774 shares of the company’s stock were exchanged, compared to its average volume of 765,962. Amdocs has a fifty-two week low of $76.50 and a fifty-two week high of $95.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $8.87 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.40 and a beta of 0.51. The business has a fifty day moving average price of $83.49 and a 200-day moving average price of $87.48.

Wall Street Analyst Weigh In

DOX has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Amdocs in a research report on Thursday, October 30th. Wall Street Zen downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reduced their price target on Amdocs from $100.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Bank of America lowered their price target on Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.50.

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.