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

Amdocs Limited (NASDAQ:DOX) has received an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $86.6667.

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a report on Wednesday, August 5th. Wall Street Zen raised shares of Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, KeyCorp started coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating on the stock.

Amdocs Trading Down 1.6%

Shares of NASDAQ DOX traded down $0.98 during midday trading on Friday, hitting $59.53. The stock had a trading volume of 38,566 shares, compared to its average volume of 1,261,979. The company’s 50-day simple moving average is $57.97 and its 200 day simple moving average is $60.39. The firm has a market cap of $6.43 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.07 and a beta of 0.42. Amdocs has a fifty-two week low of $49.74 and a fifty-two week high of $85.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, hitting the consensus estimate of $1.84. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Amdocs had a return on equity of 20.28% and a net margin of 9.75%.The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 EPS. Research analysts anticipate that Amdocs will post 6.56 EPS for the current year.

Amdocs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a $0.569 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 30th. Amdocs’s dividend payout ratio is 54.29%.

Hedge Funds Weigh In On Amdocs

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Amdocs by 14.9% during the 1st quarter. Royal Bank of Canada now owns 446,125 shares of the technology company’s stock valued at $29,114,000 after purchasing an additional 57,740 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Amdocs by 429.6% during the 1st quarter. Renaissance Technologies LLC now owns 291,800 shares of the technology company’s stock worth $19,043,000 after buying an additional 236,700 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Amdocs by 85.4% during the 4th quarter. BNP Paribas Financial Markets now owns 201,982 shares of the technology company’s stock worth $16,262,000 after buying an additional 93,036 shares during the period. Arbejdsmarkedets Tillaegspension raised its holdings in Amdocs by 17.5% in the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 354,383 shares of the technology company’s stock valued at $23,127,000 after acquiring an additional 52,906 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Amdocs by 29.1% during the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock worth $82,375,000 after acquiring an additional 284,435 shares during the period. Institutional investors own 92.02% of the company’s stock.

About Amdocs

Amdocs Limited (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, product offerings, billing, ordering, network operations and digital experiences.

The company offers cloud-based and software-as-a-service platforms spanning business and operational support systems, customer experience management, monetization, network automation, data and artificial intelligence.