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

Amdocs Limited (NASDAQ:DOX) declared 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 is Friday, June 28th.

Amdocs has raised its dividend by an average of 9.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Amdocs has a dividend payout ratio of 27.2% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Amdocs stock opened at $78.33 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.38 and a beta of 0.74. The stock has a 50-day simple moving average of $80.82 and a 200 day simple moving average of $86.75. Amdocs has a 12-month low of $74.41 and a 12-month high of $99.75.

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

Analyst Upgrades and Downgrades

DOX has been the topic of several recent research reports. Citigroup lowered their price objective on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. StockNews.com downgraded Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Robert W. Baird lowered their target price on Amdocs from $97.00 to $90.00 and set a “neutral” 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.80.

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.