Amdocs (NASDAQ:DOX) Shares Gap Up After Dividend Announcement

Amdocs Limited (NASDAQ:DOX) shares gapped up prior to trading on Wednesday following a dividend announcement from the company. The stock had previously closed at $86.86, but opened at $91.77. Amdocs shares last traded at $85.28, with a volume of 131,770 shares trading hands.

The newly announced dividend which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be issued a $0.527 dividend. This is an increase from Amdocs’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.45%. Amdocs’s dividend payout ratio is 45.28%.

Analyst Ratings Changes

DOX has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Oppenheimer upped their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amdocs has a consensus rating of “Buy” and a consensus target price of $101.20.

Amdocs Stock Up 0.2 %

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $9.72 billion, a P/E ratio of 20.25, a PEG ratio of 1.47 and a beta of 0.71. The company has a fifty day moving average price of $85.98 and a 200-day moving average price of $86.41.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.69% and a net margin of 9.85%. As a group, research analysts forecast that Amdocs Limited will post 6.19 EPS for the current fiscal year.

Institutional Trading of Amdocs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in Amdocs by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock valued at $579,632,000 after buying an additional 111,357 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Amdocs by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock valued at $274,681,000 after buying an additional 87,801 shares during the period. Wellington Management Group LLP raised its holdings in shares of Amdocs by 0.8% in the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock valued at $186,939,000 after acquiring an additional 16,580 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Amdocs by 7.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,815,675 shares of the technology company’s stock worth $154,587,000 after acquiring an additional 125,654 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

About Amdocs

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.