Amdocs Limited (NASDAQ:DOX - Get Free Report) shares gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $86.86, but opened at $91.77. Amdocs shares last traded at $85.28, with a volume of 131,770 shares trading hands.
The newly announced dividend which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be given a dividend of $0.527 per share. This represents a $2.11 annualized dividend and a yield of 2.45%. This is a boost from Amdocs's previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. Amdocs's payout ratio is presently 48.72%.
Wall Street Analysts Forecast Growth
DOX has been the subject of a number of research analyst reports. Oppenheimer raised their target price on Amdocs from $98.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com raised Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Barclays dropped their target price on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $101.20.
Get Our Latest Analysis on Amdocs
Amdocs Stock Up 0.0 %
The firm has a market cap of $9.71 billion, a PE ratio of 19.95, a PEG ratio of 1.41 and a beta of 0.71. The stock has a 50 day simple moving average of $85.94 and a 200-day simple moving average of $86.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.
Amdocs (NASDAQ:DOX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. Sell-side analysts predict that Amdocs Limited will post 6.21 EPS for the current fiscal year.
Hedge Funds Weigh In On Amdocs
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA boosted its holdings in shares of Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock valued at $27,000 after acquiring an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Amdocs in the third quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new stake in Amdocs in the fourth quarter worth approximately $36,000. SBI Securities Co. Ltd. bought a new stake in Amdocs in the 4th quarter worth approximately $41,000. Finally, Global Retirement Partners LLC raised its stake in Amdocs by 45.6% during the 4th quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock valued at $48,000 after buying an additional 175 shares during the last quarter. 92.02% of the stock is owned by institutional investors.
About Amdocs
(
Get Free Report)
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.
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