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

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.479 per share by the technology company on Friday, January 31st. This represents a $1.92 annualized dividend and a yield of 2.23%. The ex-dividend date is Tuesday, December 31st.

Amdocs has increased its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 13 years. Amdocs has a dividend payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Amdocs to earn $6.75 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 28.4%.

Amdocs Stock Down 1.0 %

Shares of NASDAQ DOX opened at $85.79 on Friday. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.45 and a beta of 0.72. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04. The stock has a 50-day moving average price of $87.59 and a two-hundred day moving average price of $85.15.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DOX shares. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. Barclays cut their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and a consensus target price of $101.20.

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.