Amdocs Limited (NASDAQ:DOX) Plans Quarterly Dividend of $0.48

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.479 per share by the technology company on Friday, July 26th. This represents a $1.92 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, June 28th.

Amdocs has increased its dividend by an average of 9.9% annually over the last three years and has raised its dividend every year for the last 13 years. Amdocs has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Amdocs to earn $6.48 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 29.6%.

Amdocs Trading Down 0.1 %

Shares of DOX stock opened at $78.29 on Wednesday. The firm has a market capitalization of $9.20 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.32 and a current ratio of 1.32. Amdocs has a 1 year low of $74.41 and a 1 year high of $99.75. The stock has a fifty day moving average of $80.96 and a two-hundred day moving average of $86.81.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 8th. The technology company reported $1.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.05). Amdocs had a net margin of 10.62% and a return on equity of 17.85%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. As a group, research analysts expect that Amdocs will post 5.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DOX shares. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Robert W. Baird reduced their price target on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Citigroup decreased their price objective on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.80.

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.