Amdocs (NASDAQ:DOX) Sets New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

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

Amdocs Stock Performance

The firm has a 50 day moving average of $63.97 and a 200-day moving average of $71.37. The company has a market cap of $6.40 billion, a P/E ratio of 11.89, a PEG ratio of 1.04 and a beta of 0.38. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last issued its 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. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.78 EPS. Amdocs’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.569 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a yield of 3.8%. Amdocs’s dividend payout ratio (DPR) is 45.60%.

Hedge Funds Weigh In On Amdocs

Several institutional investors have recently bought and sold shares of the business. Amundi lifted its holdings in Amdocs by 73.0% during 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 period. Millennium Management LLC lifted 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 last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Amdocs by 12.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock worth $30,300,000 after purchasing an additional 37,087 shares during the last quarter. Empowered Funds LLC boosted its position in Amdocs by 12.0% during the first quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock valued at $1,462,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Amdocs by 195.4% in the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock valued at $10,608,000 after purchasing an additional 76,683 shares during the last quarter. 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.