Amdocs Limited (DOX) Receives $70.67 Consensus Target Price from Brokerages
Shares of Amdocs Limited (NASDAQ:DOX) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $70.67.
A number of brokerages have weighed in on DOX. Stifel Nicolaus lifted their price target on shares of Amdocs from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Oppenheimer reiterated a “buy” rating and set a $77.00 price target on shares of Amdocs in a research report on Wednesday, January 31st. BidaskClub cut shares of Amdocs from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 5th. Zacks Investment Research cut shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Finally, Robert W. Baird reiterated a “hold” rating and set a $66.00 price target on shares of Amdocs in a research report on Friday, October 20th.
Several hedge funds and other institutional investors have recently bought and sold shares of DOX. Janus Henderson Group PLC lifted its stake in Amdocs by 0.8% in the third quarter. Janus Henderson Group PLC now owns 7,488,518 shares of the technology company’s stock worth $481,661,000 after acquiring an additional 57,372 shares during the last quarter. Boston Partners lifted its stake in Amdocs by 0.4% in the third quarter. Boston Partners now owns 7,139,400 shares of the technology company’s stock worth $459,206,000 after acquiring an additional 27,688 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Amdocs by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 5,111,588 shares of the technology company’s stock worth $334,707,000 after acquiring an additional 178,896 shares during the last quarter. BlackRock Inc. lifted its stake in Amdocs by 5.4% in the fourth quarter. BlackRock Inc. now owns 4,908,222 shares of the technology company’s stock worth $321,392,000 after acquiring an additional 250,644 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in Amdocs by 4.2% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,626,469 shares of the technology company’s stock worth $137,393,000 after acquiring an additional 105,089 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.17. Amdocs had a net margin of 11.72% and a return on equity of 15.13%. The business had revenue of $977.70 million during the quarter, compared to analysts’ expectations of $979.13 million. During the same period last year, the business earned $0.90 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. sell-side analysts anticipate that Amdocs will post 3.75 earnings per share for the current year.
Amdocs declared that its board has approved a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, March 30th will be paid a $0.25 dividend. This is a positive change from Amdocs’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 1.53%. Amdocs’s dividend payout ratio (DPR) is presently 28.39%.
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Amdocs Company Profile
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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