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

Amdocs Limited (NASDAQ:DOX - Get Free Report) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors 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 yield of 2.30%. The ex-dividend date of this dividend is Friday, June 28th.

Amdocs has raised its dividend payment 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 payout ratio of 26.9% meaning 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 Stock Up 1.9 %

NASDAQ DOX traded up $1.53 during trading on Friday, hitting $83.23. The company's stock had a trading volume of 1,479,860 shares, compared to its average volume of 686,588. The business's 50 day simple moving average is $88.40 and its 200-day simple moving average is $87.48. The company 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. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. Amdocs has a fifty-two week low of $78.38 and a fifty-two week high of $99.75.

Amdocs (NASDAQ:DOX - Get Free Report) 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 business 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 company's revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.33 EPS. On average, equities analysts anticipate that Amdocs will post 5.87 EPS for the current fiscal year.

Analysts Set New Price Targets

DOX has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Amdocs from a "strong-buy" rating to a "buy" rating in a report on Friday, March 15th. Barclays lifted their price target on Amdocs from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. Citigroup lowered their price target on Amdocs from $105.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Robert W. Baird reduced their target price on Amdocs from $97.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Amdocs presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.83.

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.