Amdocs Limited (NASDAQ:DOX) Stock Has Average Target Price of $86.67

Shares of Amdocs Limited (NASDAQ:DOX) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $86.67.

DOX has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Amdocs from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. KeyCorp initiated coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating on the stock. Finally, Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th.

Amdocs Trading Down 0.1%

Shares of Amdocs stock opened at $59.99 on Tuesday. The stock has a market cap of $6.48 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.96 and a beta of 0.44. The stock’s 50 day simple moving average is $59.98 and its 200-day simple moving average is $59.20. Amdocs has a 1-year low of $49.74 and a 1-year high of $85.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.94.

Amdocs (NASDAQ:DOX) last issued its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.84. Amdocs had a return on equity of 20.28% and a net margin of 9.75%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts predict that Amdocs will post 6.56 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.5690 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Amdocs’s dividend payout ratio (DPR) is presently 54.29%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Alpine Bank Wealth Management lifted its stake in Amdocs by 58.2% in the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company’s stock worth $29,000 after acquiring an additional 184 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Amdocs during the 3rd quarter worth $314,000. First Citizens Bank & Trust Co. acquired a new position in shares of Amdocs during the third quarter worth $949,000. Ifrah Financial Services Inc. purchased a new position in Amdocs in the third quarter valued at $218,000. Finally, Steel Grove Capital Advisors LLC purchased a new position in Amdocs in the third quarter valued at $2,229,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

About Amdocs

Amdocs Ltd. (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company’s portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.