Amdocs Limited (NASDAQ:DOX) Stock Has Average Price Target of $86.67

Shares of Amdocs Limited (NASDAQ:DOX) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $86.67.

Several equities analysts have commented on DOX shares. KeyCorp began coverage on Amdocs in a report on Monday, June 29th. They issued a “sector weight” rating for the company. Weiss Ratings downgraded Amdocs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a report on Saturday, August 29th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DOX. GAMMA Investing LLC grew its holdings in shares of Amdocs by 71.7% during the third quarter. GAMMA Investing LLC now owns 2,962 shares of the technology company’s stock worth $169,000 after purchasing an additional 1,237 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Amdocs by 16.4% in the third 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. Steph & Co. raised its holdings in shares of Amdocs by 251.7% in the third quarter. Steph & Co. now owns 9,454 shares of the technology company’s stock valued at $541,000 after buying an additional 6,766 shares during the last quarter. CX Institutional raised its holdings in shares of Amdocs by 42.3% in the third quarter. CX Institutional now owns 8,146 shares of the technology company’s stock valued at $466,000 after buying an additional 2,421 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Amdocs by 3,340.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,101 shares of the technology company’s stock worth $63,000 after buying an additional 1,069 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded up $0.76 on Tuesday, hitting $59.51. 17,013 shares of the company were exchanged, compared to its average volume of 1,238,509. The company’s 50 day moving average price is $59.76 and its two-hundred day moving average price is $59.39. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.94 and a beta of 0.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 0.94. Amdocs has a one year low of $49.74 and a one year high of $85.63.

Amdocs (NASDAQ:DOX) last released its earnings results on Thursday, August 6th. The technology company reported $1.84 earnings per share for the quarter, meeting the consensus estimate of $1.84. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Research analysts expect that Amdocs will post 6.56 earnings per share for the current year.

Amdocs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be paid a $0.5690 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 30th. Amdocs’s dividend payout ratio is presently 54.05%.

About Amdocs

Amdocs Limited (NASDAQ: DOX) is a global provider of software and services for communications, media and entertainment companies. Its offerings help service providers manage customer relationships, billing, product catalogs, ordering, network operations and digital experiences across consumer and enterprise markets.

The company provides business support systems and operational support systems, along with cloud-based platforms, artificial intelligence and data solutions, cybersecurity, network services and managed services.