Brokerages Set Amdocs Ltd. (DOX) Price Target at $63.00
Shares of Amdocs Ltd. (NASDAQ:DOX) have received an average rating of “Buy” from the eight ratings firms that are presently covering the company. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $63.00.
DOX has been the topic of a number of research reports. Jefferies Group raised their price target on shares of Amdocs from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, July 27th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Amdocs in a research note on Monday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Amdocs from $61.00 to $64.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Citigroup Inc. raised their price target on shares of Amdocs from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Bank of America Corp. reaffirmed a “buy” rating and issued a $63.00 price target on shares of Amdocs in a research note on Wednesday.
Shares of Amdocs (NASDAQ:DOX) opened at 58.60 on Tuesday. Amdocs has a 52 week low of $50.06 and a 52 week high of $61.33. The firm’s 50-day moving average price is $58.73 and its 200 day moving average price is $58.24. The company has a market capitalization of $8.66 billion, a PE ratio of 22.07 and a beta of 0.68.
Amdocs (NASDAQ:DOX) last posted its earnings results on Tuesday, November 8th. The company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.00. Amdocs had a return on equity of 14.62% and a net margin of 11.01%. The firm had revenue of $940.70 million for the quarter, compared to analysts’ expectations of $941.19 million. During the same period last year, the firm earned $0.84 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts predict that Amdocs will post $3.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 1.33%. Amdocs’s dividend payout ratio (DPR) is 28.78%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DOX. State Street Corp raised its position in Amdocs by 2.8% in the first quarter. State Street Corp now owns 1,995,422 shares of the company’s stock worth $120,562,000 after buying an additional 53,565 shares during the period. Wellington Management Group LLP increased its stake in shares of Amdocs by 48.3% in the first quarter. Wellington Management Group LLP now owns 1,876,826 shares of the company’s stock worth $113,397,000 after buying an additional 610,839 shares in the last quarter. Barclays PLC increased its stake in shares of Amdocs by 542.9% in the first quarter. Barclays PLC now owns 60,340 shares of the company’s stock worth $3,620,000 after buying an additional 50,954 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Amdocs by 4.7% in the first quarter. Panagora Asset Management Inc. now owns 890,357 shares of the company’s stock worth $53,795,000 after buying an additional 40,151 shares in the last quarter. Finally, Babson Capital Management LLC increased its stake in shares of Amdocs by 21.3% in the first quarter. Babson Capital Management LLC now owns 58,700 shares of the company’s stock worth $3,547,000 after buying an additional 10,300 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.
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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