Amdocs Limited (NASDAQ:DOX) Announces Quarterly Dividend of $0.53

Amdocs Limited (NASDAQ:DOX) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.527 per share by the technology company on Sunday, April 20th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48.

Amdocs has raised its dividend by an average of 10.0% per year over the last three years. Amdocs has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

DOX stock traded up $1.29 during trading on Wednesday, hitting $88.15. The stock had a trading volume of 1,281,738 shares, compared to its average volume of 598,779. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.20. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a market capitalization of $9.95 billion, a P/E ratio of 20.79, a PEG ratio of 1.47 and a beta of 0.71. The company’s 50-day moving average price is $85.96 and its two-hundred day moving average price is $86.40.

Amdocs (NASDAQ:DOX) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.69% and a net margin of 9.85%. As a group, research analysts predict that Amdocs will post 6.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DOX has been the topic of a number of recent research reports. StockNews.com lowered Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 14th. Oppenheimer raised their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Barclays decreased their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.20.

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.