Amdocs (NASDAQ:DOX) Hits New 12-Month Low at $78.00

Amdocs Limited (NASDAQ:DOXGet Free Report)’s share price reached a new 52-week low on Wednesday . The company traded as low as $78.00 and last traded at $78.33, with a volume of 59516 shares trading hands. The stock had previously closed at $78.79.

Analysts Set New Price Targets

DOX has been the topic of a number of recent research reports. Robert W. Baird dropped their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Barclays upped their price target on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Finally, Citigroup dropped their price target on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $104.83.

Read Our Latest Report on Amdocs

Amdocs Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $9.14 billion, a PE ratio of 17.71, a PEG ratio of 1.42 and a beta of 0.70. The company’s 50 day simple moving average is $85.62 and its 200-day simple moving average is $87.69.

Amdocs (NASDAQ:DOXGet Free Report) last posted its earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.05). The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. On average, analysts forecast that Amdocs Limited will post 5.7 EPS for the current fiscal year.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, June 28th. Amdocs’s dividend payout ratio (DPR) is currently 43.15%.

Institutional Trading of Amdocs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC raised its position in shares of Amdocs by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock valued at $384,504,000 after buying an additional 15,264 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Amdocs by 31.0% during the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after purchasing an additional 621,962 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Amdocs by 1.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock valued at $180,905,000 after purchasing an additional 38,452 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after purchasing an additional 576,168 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Amdocs by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock valued at $176,464,000 after purchasing an additional 94,856 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

About Amdocs

(Get Free Report)

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.

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