Amdocs Ltd. (NASDAQ:DOX) Receives $63.00 Average Target Price from Brokerages
Amdocs Ltd. (NASDAQ:DOX) has received an average recommendation of “Buy” from the eight brokerages that are covering the stock. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $63.00.
A number of equities analysts have issued reports on DOX shares. Citigroup Inc. lifted their price objective on shares of Amdocs from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. lifted their target price on Amdocs from $61.00 to $64.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Jefferies Group lifted their target price on Amdocs from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $65.00 target price on shares of Amdocs in a research note on Thursday, September 15th. Finally, Zacks Investment Research upgraded Amdocs from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Tuesday, July 5th.
A number of large investors have recently made changes to their positions in the stock. Ngam Advisors L.P. boosted its stake in shares of Amdocs by 34.8% in the first quarter. Ngam Advisors L.P. now owns 15,792 shares of the company’s stock worth $954,000 after buying an additional 4,073 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Amdocs by 16.0% in the first quarter. BlackRock Inc. now owns 352,478 shares of the company’s stock worth $21,297,000 after buying an additional 48,687 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of Amdocs by 4.5% in the first quarter. BlackRock Group LTD now owns 911,307 shares of the company’s stock worth $55,060,000 after buying an additional 39,250 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Amdocs by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,187,025 shares of the company’s stock worth $252,980,000 after buying an additional 22,569 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in shares of Amdocs by 60.7% in the first quarter. BlackRock Japan Co. Ltd now owns 88,121 shares of the company’s stock worth $5,324,000 after buying an additional 33,293 shares in the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.
Amdocs (NASDAQ:DOX) opened at 59.57 on Tuesday. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 22.52 and a beta of 0.73. Amdocs has a 12 month low of $50.06 and a 12 month high of $61.33. The stock has a 50 day moving average of $59.40 and a 200 day moving average of $58.23.
Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. The firm had revenue of $930 million for the quarter, compared to the consensus estimate of $928.81 million. Amdocs had a net margin of 10.93% and a return on equity of 14.59%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. Equities analysts anticipate that Amdocs will post $3.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Amdocs’s dividend payout ratio is currently 29.32%.
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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