Amdocs Limited (NASDAQ:DOX) has been given an average recommendation of “Hold” by the eight research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $65.33.
A number of equities analysts have commented on DOX shares. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $70.00 price objective (up from $65.00) on shares of Amdocs Limited in a research note on Tuesday, March 7th. Zacks Investment Research downgraded shares of Amdocs Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of Amdocs Limited in a report on Tuesday, May 9th. Robert W. Baird boosted their target price on shares of Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. Finally, BidaskClub cut shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th.
Hedge funds have recently modified their holdings of the company. Robecosam AG acquired a new stake in shares of Amdocs Limited during the first quarter valued at about $114,000. Creative Planning boosted its stake in Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock worth $134,000 after buying an additional 847 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Amdocs Limited by 30.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,969 shares of the technology company’s stock worth $181,000 after buying an additional 696 shares during the last quarter. HighTower Advisors LLC bought a new stake in Amdocs Limited during the first quarter worth $220,000. Finally, ProShare Advisors LLC bought a new stake in Amdocs Limited during the first quarter worth $224,000. 91.02% of the stock is currently owned by institutional investors and hedge funds.
Amdocs Limited (DOX) traded down 0.60% during midday trading on Friday, reaching $64.85. The company’s stock had a trading volume of 147,578 shares. Amdocs Limited has a 12 month low of $54.12 and a 12 month high of $66.48. The company has a market cap of $9.50 billion, a PE ratio of 23.50 and a beta of 0.54. The stock has a 50-day moving average price of $63.94 and a 200 day moving average price of $61.11.
Amdocs Limited (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. Amdocs Limited had a net margin of 10.84% and a return on equity of 14.46%. The business had revenue of $966 million during the quarter, compared to analysts’ expectations of $960.58 million. During the same period last year, the company posted $0.92 EPS. The business’s revenue was up 4.3% on a year-over-year basis. Analysts expect that Amdocs Limited will post $3.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. Amdocs Limited’s dividend payout ratio is presently 31.88%.
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About Amdocs Limited
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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