Amdocs Ltd. (NASDAQ:DOX) Given Consensus Rating of “Buy” by Brokerages

Amdocs Ltd. (NASDAQ:DOX) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the firm. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $62.50.

Several research analysts recently commented on the company. Jefferies Group reissued a “hold” rating and set a $56.00 price target on shares of Amdocs in a research report on Wednesday. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $65.00 price target on shares of Amdocs in a research report on Wednesday. Citigroup Inc. increased their price target on Amdocs from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research raised Amdocs from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, July 5th.

Shares of Amdocs (NASDAQ:DOX) traded down 0.75% on Wednesday, hitting $58.11. 542,743 shares of the stock traded hands. The stock has a 50 day moving average of $57.30 and a 200 day moving average of $56.98. Amdocs has a one year low of $50.06 and a one year high of $61.46. The company has a market cap of $8.70 billion and a PE ratio of 21.94.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.03. During the same quarter in the previous year, the business posted $0.84 earnings per share. The firm had revenue of $930 million for the quarter, compared to the consensus estimate of $928.81 million. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Amdocs will post $3.57 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 1.33%.

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.