Amdocs (NASDAQ:DOX) Reaches New 52-Week Low – Time to Sell?

Amdocs Limited (NASDAQ:DOX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $55.11 and last traded at $56.34, with a volume of 44284 shares changing hands. The stock had previously closed at $56.01.

Analysts Set New Price Targets

Several research firms recently commented on DOX. Cfra downgraded Amdocs to a “sell” rating in a report on Thursday, May 14th. Stifel Nicolaus cut their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Finally, Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.67.

Amdocs Trading Up 0.6%

The stock has a market capitalization of $6.08 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 0.97 and a beta of 0.38. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $62.76 and a 200 day moving average price of $70.43.

Amdocs (NASDAQ:DOX) last released its earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned $1.78 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.569 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.0%. Amdocs’s dividend payout ratio (DPR) is 45.60%.

Institutional Investors Weigh In On Amdocs

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Amdocs by 29.1% in the 1st quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock valued at $82,375,000 after purchasing an additional 284,435 shares during the last quarter. Edgestream Partners L.P. grew its position in shares of Amdocs by 243.4% in the first quarter. Edgestream Partners L.P. now owns 50,055 shares of the technology company’s stock valued at $3,267,000 after purchasing an additional 35,477 shares in the last quarter. Amundi boosted its stake in Amdocs by 113.0% during the first quarter. Amundi now owns 22,956 shares of the technology company’s stock worth $1,498,000 after buying an additional 12,181 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Amdocs by 32.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,255 shares of the technology company’s stock valued at $147,000 after acquiring an additional 550 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Amdocs by 14.9% during the first quarter. Royal Bank of Canada now owns 446,125 shares of the technology company’s stock worth $29,114,000 after purchasing an additional 57,740 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Company Profile

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.