Amdocs Limited (NASDAQ:DOX) to Issue $0.48 Quarterly Dividend

Amdocs Limited (NASDAQ:DOX) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.479 per share by the technology company on Friday, July 26th. This represents a $1.92 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 28th.

Amdocs has increased its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Amdocs has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amdocs to earn $6.58 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 29.2%.

Amdocs Price Performance

NASDAQ DOX traded up $1.54 on Friday, reaching $83.24. 823,087 shares of the company’s stock traded hands, compared to its average volume of 678,780. Amdocs has a 12 month low of $78.38 and a 12 month high of $99.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a 50-day simple moving average of $88.40 and a 200 day simple moving average of $87.48. The stock has a market cap of $9.78 billion, a PE ratio of 17.49, a P/E/G ratio of 1.36 and a beta of 0.70.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. As a group, research analysts predict that Amdocs will post 5.87 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on DOX. Citigroup reduced their price objective on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. Robert W. Baird dropped their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays raised their target price on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and an average price target of $104.83.

Amdocs Company Profile

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.