Amdocs Limited (NASDAQ:DOX) Plans Quarterly Dividend of $0.57

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Thursday, December 31st will be given a dividend of $0.5690 per share by the technology company on Friday, January 29th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, December 31st.

Amdocs has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 14 years. Amdocs has a dividend payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Amdocs to earn $7.14 per share next year, which means the company should continue to be able to cover its $2.27 annual dividend with an expected future payout ratio of 31.8%.

Amdocs Stock Down 1.7%

Shares of NASDAQ:DOX opened at $62.43 on Wednesday. The firm’s 50 day moving average price is $60.65 and its 200 day moving average price is $62.58. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.01 and a beta of 0.42. Amdocs has a fifty-two week low of $49.74 and a fifty-two week high of $85.63. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported $1.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.98. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts predict that Amdocs will post 6.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DOX. Weiss Ratings upgraded shares of Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 23rd. Oppenheimer downgraded shares of Amdocs from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Stifel Nicolaus dropped their target price on Amdocs from $71.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wall Street Zen upgraded Amdocs from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Amdocs has a consensus rating of “Hold” and an average price target of $78.33.

Amdocs Company Profile

Amdocs Ltd. (NASDAQ: DOX) is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company’s portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.