Amdocs Limited (NASDAQ:DOX) Increases Dividend to $0.53 Per Share

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 yield of 2.39%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Amdocs’s previous quarterly dividend of $0.48.

Amdocs has raised its dividend payment by an average of 10.0% annually over the last three years. Amdocs has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. 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

NASDAQ:DOX opened at $88.14 on Thursday. The firm has a market cap of $9.95 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.47 and a beta of 0.71. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. 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 released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 9.85% and a return on equity of 18.69%. On average, equities analysts anticipate that Amdocs will post 6.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DOX shares. Barclays reduced their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Oppenheimer upped 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, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target 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.