Amdocs Limited (NASDAQ:DOX – Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $49.90 and last traded at $51.69, with a volume of 2666214 shares changing hands. The stock had previously closed at $51.47.
Analyst Upgrades and Downgrades
Several brokerages recently commented on DOX. Cfra cut Amdocs to a “sell” rating in a research report on Thursday, May 14th. Stifel Nicolaus decreased their price objective on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Amdocs has an average rating of “Hold” and a consensus price target of $86.67.
View Our Latest Research Report on Amdocs
Amdocs Trading Up 0.4%
Amdocs (NASDAQ:DOX – Get Free Report) last issued its earnings results on Thursday, May 14th. The technology company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. Amdocs’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.
Amdocs Dividend Announcement
The firm 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 $0.569 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 4.4%. Amdocs’s dividend payout ratio is currently 45.60%.
Institutional Investors Weigh In On Amdocs
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DOX. WealthCollab LLC lifted its stake in shares of Amdocs by 94.5% in the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amdocs during the 4th quarter worth about $37,000. Los Angeles Capital Management LLC purchased a new stake in Amdocs in the 4th quarter valued at about $39,000. Advisory Services Network LLC purchased a new stake in Amdocs in the 3rd quarter valued at about $42,000. Finally, CIBC Private Wealth Group LLC lifted its position in Amdocs by 190.2% in the third 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 last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.
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.
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