Amdocs (NASDAQ:DOX) Hits New 1-Year Low – Here’s What Happened

Amdocs Limited (NASDAQ:DOX)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $49.90 and last traded at $51.69, with a volume of 2666214 shares traded. The stock had previously closed at $51.47.

Analyst Ratings Changes

Several analysts have commented on DOX shares. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Stifel Nicolaus decreased their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, Cfra lowered shares of Amdocs to a “sell” rating in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amdocs has an average rating of “Hold” and a consensus price target of $86.67.

Amdocs Trading Up 0.4%

The stock has a market cap of $5.58 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.89 and a beta of 0.38. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The company has a 50 day moving average of $61.70 and a two-hundred day moving average of $69.77.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. Amdocs’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Amdocs Limited will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.569 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.4%. Amdocs’s dividend payout ratio (DPR) is 45.60%.

Hedge Funds Weigh In On Amdocs

A number of large investors have recently added to or reduced their stakes in DOX. Pacer Advisors Inc. lifted its holdings in Amdocs by 41.6% during the first quarter. Pacer Advisors Inc. now owns 448,722 shares of the technology company’s stock valued at $29,284,000 after purchasing an additional 131,913 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Amdocs by 29.1% during the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock worth $82,375,000 after purchasing an additional 284,435 shares in the last quarter. Edgestream Partners L.P. raised its position in shares of Amdocs by 243.4% during the 1st quarter. Edgestream Partners L.P. now owns 50,055 shares of the technology company’s stock worth $3,267,000 after purchasing an additional 35,477 shares during the last quarter. Amundi raised its position in shares of Amdocs by 113.0% during the 1st quarter. Amundi now owns 22,956 shares of the technology company’s stock worth $1,498,000 after purchasing an additional 12,181 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Amdocs by 32.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,255 shares of the technology company’s stock valued at $147,000 after buying an additional 550 shares in the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.