Amdocs (NASDAQ:DOX) Sets New 1-Year Low – Time to Sell?

Shares of Amdocs Limited (NASDAQ:DOX) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $58.88 and last traded at $59.41, with a volume of 69371 shares traded. The stock had previously closed at $60.09.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus dropped their price target on Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Cfra downgraded Amdocs to a “sell” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Finally, Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Amdocs currently has a consensus rating of “Hold” and a consensus price target of $86.67.

Amdocs Trading Down 1.3%

The stock has a market cap of $6.40 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.04 and a beta of 0.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s fifty day moving average is $63.97 and its 200 day moving average is $71.37.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. As a group, equities research analysts predict that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The business also recently declared 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. This represents a $2.28 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio is presently 45.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DOX. Amundi raised its stake in shares of Amdocs by 73.0% in the first quarter. Amundi now owns 13,778 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 5,816 shares during the period. Millennium Management LLC boosted its stake in shares of Amdocs by 458.3% during the 1st quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock worth $6,135,000 after purchasing an additional 55,038 shares during the period. Goldman Sachs Group Inc. grew its holdings in Amdocs by 12.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock valued at $30,300,000 after purchasing an additional 37,087 shares during the last quarter. Empowered Funds LLC raised its position in Amdocs by 12.0% in the 1st quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock worth $1,462,000 after purchasing an additional 1,709 shares during the period. Finally, Jane Street Group LLC raised its position in Amdocs by 195.4% in the 1st quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after purchasing an additional 76,683 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Company Profile

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.