Amdocs Limited (NASDAQ:DOX) Plans $0.48 Quarterly Dividend

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.479 per share by the technology company on Friday, July 26th. This represents a $1.92 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 28th.

Amdocs has increased its dividend by an average of 9.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Amdocs has a payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amdocs to earn $6.58 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 29.2%.

Amdocs Stock Performance

Shares of Amdocs stock traded up $1.54 during trading hours on Friday, reaching $83.24. 823,087 shares of the stock traded hands, compared to its average volume of 678,780. The company has a 50 day moving average price of $88.40 and a 200 day moving average price of $87.48. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.36 and a beta of 0.70. Amdocs has a one year low of $78.38 and a one year high of $99.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. On average, equities research analysts expect that Amdocs will post 5.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DOX shares. Barclays boosted their target price on Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Citigroup cut their price objective on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Robert W. Baird lowered their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.83.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.