Amdocs Limited (NASDAQ:DOX) Stock Has Consensus Target Price of $78.33 According to Brokerages

Amdocs Limited (NASDAQ:DOX) has received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $78.33.

A number of research firms recently weighed in on DOX. Wall Street Zen lowered shares of Amdocs from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus cut their price objective on shares of Amdocs from $71.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings raised shares of Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Finally, Oppenheimer downgraded Amdocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday.

Institutional Investors Weigh In On Amdocs

Hedge funds have recently bought and sold shares of the business. Alpine Bank Wealth Management increased its holdings in Amdocs by 58.2% during the 3rd quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company’s stock worth $29,000 after purchasing an additional 184 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Amdocs in the 3rd quarter valued at approximately $57,000. Versant Capital Management Inc raised its position in shares of Amdocs by 3,340.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company’s stock valued at $63,000 after purchasing an additional 1,069 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Amdocs by 16.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $74,000 after buying an additional 182 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Amdocs by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,725 shares of the technology company’s stock valued at $87,000 after buying an additional 684 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Stock Down 4.0%

Amdocs stock traded down $1.74 during midday trading on Friday, hitting $42.09. 4,358,971 shares of the company were exchanged, compared to its average volume of 946,788. The company has a market cap of $4.54 billion, a PE ratio of 9.01, a price-to-earnings-growth ratio of 1.01 and a beta of 0.42. Amdocs has a fifty-two week low of $40.48 and a fifty-two week high of $85.63. The company’s fifty day moving average price is $59.49 and its 200-day moving average price is $61.98. 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 quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.98. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. Amdocs’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $1.83 earnings per share. On average, research analysts predict that Amdocs will post 7.12 EPS for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, December 31st will be paid a $0.5690 dividend. The ex-dividend date is Thursday, December 31st. This represents a $2.28 annualized dividend and a dividend yield of 5.4%. Amdocs’s payout ratio is 48.82%.

Amdocs Company Profile

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.