Amdocs Limited (NASDAQ:DOX) Receives $86.67 Average Price Target from Brokerages

Shares of Amdocs Limited (NASDAQ:DOX) have earned an average rating of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $86.6667.

Several analysts recently weighed in on DOX shares. Stifel Nicolaus cut their price target on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Cfra cut shares of Amdocs to a “sell” rating in a report on Thursday, May 14th. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th.

Amdocs Stock Up 0.2%

Shares of Amdocs stock opened at $56.01 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. Amdocs has a 52-week low of $55.27 and a 52-week high of $95.41. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 0.97 and a beta of 0.38. The company’s 50 day moving average price is $62.76 and its 200-day moving average price is $70.43.

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

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.569 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.28 annualized dividend and a yield of 4.1%. Amdocs’s dividend payout ratio (DPR) is currently 45.60%.

Hedge Funds Weigh In On Amdocs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WealthCollab LLC lifted its position in Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock valued at $29,000 after buying an additional 173 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in shares of Amdocs in the 4th quarter worth about $37,000. Abich Financial Wealth Management LLC purchased a new position in shares of Amdocs in the 3rd quarter worth about $39,000. Los Angeles Capital Management LLC purchased a new position in shares of Amdocs in the 4th quarter worth about $39,000. Finally, Advisory Services Network LLC purchased a new position in shares of Amdocs in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors 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.