Amdocs (NASDAQ:DOX) Hits New 1-Year Low – Here’s What Happened

Shares of Amdocs Limited (NASDAQ:DOX) reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $40.28 and last traded at $40.0760, with a volume of 280,944 shares changing hands. The stock had previously closed at $41.74.

Analyst Ratings Changes

Several brokerages have recently commented on DOX. Oppenheimer lowered Amdocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 4th. Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 23rd. Finally, Stifel Nicolaus decreased their target price on Amdocs from $71.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $78.33.

Amdocs Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $59.07 and its two-hundred day moving average price is $61.77. The firm has a market capitalization of $4.44 billion, a PE ratio of 8.80, a PEG ratio of 0.70 and a beta of 0.42.

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, hitting the consensus estimate of $1.98. Amdocs had a return on equity of 20.70% and a net margin of 10.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that Amdocs Limited will post 7.12 earnings per share for the current year.

Amdocs Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, December 31st. This represents a $2.28 annualized dividend and a yield of 5.5%. Amdocs’s payout ratio is presently 48.82%.

Institutional Trading of Amdocs

Several hedge funds and other institutional investors have recently bought and sold shares of DOX. Pzena Investment Management LLC raised its holdings in Amdocs by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 14,454,911 shares of the technology company’s stock valued at $826,532,000 after acquiring an additional 469,581 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Amdocs by 19.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,463,797 shares of the technology company’s stock valued at $226,045,000 after purchasing an additional 571,036 shares during the period. Bank of America Corp DE grew its position in shares of Amdocs by 29.1% in the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock valued at $82,375,000 after purchasing an additional 284,435 shares during the period. First Trust Advisors LP increased its stake in Amdocs by 13.9% in the first quarter. First Trust Advisors LP now owns 1,077,258 shares of the technology company’s stock valued at $70,302,000 after purchasing an additional 131,197 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Amdocs by 11.2% in the third quarter. Russell Investments Group Ltd. now owns 1,112,976 shares of the technology company’s stock valued at $63,703,000 after purchasing an additional 111,800 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Amdocs Company Profile

Amdocs provides software and services to communications and media companies. Its offerings include business and operational support systems for billing, customer management, service delivery and network operations, as well as cloud and digital solutions that help clients modernize their businesses and improve customer experiences. Founded in 1982, Amdocs serves communications and media providers in markets around the world. The company is headquartered in the St. Louis, Missouri, area and is led by President and Chief Executive Officer Shuky Sheffer.