Amdocs Limited (NASDAQ:DOX) Receives Consensus Recommendation of “Hold” from Brokerages

Amdocs Limited (NASDAQ:DOX) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $86.6667.

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

Amdocs Stock Performance

DOX opened at $57.98 on Wednesday. The business’s 50 day moving average is $63.70 and its 200-day moving average is $71.12. The stock has a market cap of $6.26 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.01 and a beta of 0.38. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.23. Amdocs has a twelve month low of $57.59 and a twelve month high of $95.41.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 earnings per share. On average, analysts predict that Amdocs will post 6.56 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued 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 3.9%. Amdocs’s payout ratio is presently 45.60%.

Institutional Investors Weigh In On Amdocs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi grew its position in Amdocs by 73.0% in the first quarter. Amundi now owns 13,778 shares of the technology company’s stock worth $1,217,000 after buying an additional 5,816 shares during the last quarter. Millennium Management LLC grew its position in Amdocs by 458.3% in the first quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock worth $6,135,000 after buying an additional 55,038 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Amdocs by 12.6% in the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock worth $30,300,000 after buying an additional 37,087 shares during the last quarter. Empowered Funds LLC grew its position in Amdocs by 12.0% in the first quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock worth $1,462,000 after buying an additional 1,709 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Amdocs by 195.4% in the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after buying an additional 76,683 shares during the last quarter. 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.