Amdocs Limited (NASDAQ:DOX – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $40.28 and last traded at $40.0760, with a volume of 280,944 shares. The stock had previously closed at $41.74.
DOX has been the subject of a number of other reports. Oppenheimer lowered Amdocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 4th. Wall Street Zen lowered Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Stifel Nicolaus dropped their target price on Amdocs from $71.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Finally, Weiss Ratings raised Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Amdocs currently has a consensus rating of “Hold” and an average target price of $69.00.
Check Out Our Latest Stock Analysis on Amdocs
Institutional Investors Weigh In On Amdocs
Hedge funds and other institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC lifted its holdings in shares of Amdocs by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 14,454,911 shares of the technology company’s stock valued at $826,532,000 after purchasing an additional 469,581 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Amdocs by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock valued at $226,045,000 after purchasing an additional 571,036 shares during the period. Bank of America Corp DE raised its holdings in 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 purchasing an additional 284,435 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Amdocs by 11.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,112,976 shares of the technology company’s stock worth $63,703,000 after buying an additional 111,800 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Amdocs by 13.9% in the first quarter. First Trust Advisors LP now owns 1,077,258 shares of the technology company’s stock valued at $70,302,000 after purchasing an additional 131,197 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.
Amdocs Stock Up 4.0%
The firm has a 50-day simple moving average of $58.25 and a two-hundred day simple moving average of $61.37. The company has a market cap of $4.65 billion, a PE ratio of 9.23, a P/E/G ratio of 1.35 and a beta of 0.42. 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 – Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $1.98 EPS for the quarter, hitting the consensus estimate of $1.98. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. Amdocs had a return on equity of 20.81% and a net margin of 10.59%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 earnings per share. Research analysts anticipate that Amdocs Limited will post 5.82 earnings per share for the current fiscal year.
Amdocs Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be issued a dividend of $0.5690 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $2.28 annualized dividend and a dividend yield of 5.3%. Amdocs’s payout ratio is 48.82%.
About Amdocs
Amdocs provides software and services to communications and media companies. Its offerings include business and operational support systems for billing, customer management, service delivery and network operations, as well as cloud and digital solutions that help clients modernize their businesses and improve customer experiences. Founded in 1982, Amdocs serves communications and media providers in markets around the world. The company is headquartered in the St. Louis, Missouri, area and is led by President and Chief Executive Officer Shuky Sheffer.
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