Amdocs (NASDAQ:DOX) Shares Gap Up After Dividend Announcement

Amdocs Limited (NASDAQ:DOX)’s share price gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $86.86, but opened at $91.77. Amdocs shares last traded at $85.28, with a volume of 131,770 shares trading hands.

The newly announced dividend which will be paid on Sunday, April 20th. Shareholders of record on Monday, March 31st will be paid a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 2.45%. This is a boost from Amdocs’s previous quarterly dividend of $0.48. Amdocs’s dividend payout ratio (DPR) is currently 45.28%.

Analyst Ratings Changes

DOX has been the topic of a number of research analyst reports. Oppenheimer upped their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Barclays reduced their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amdocs presently has a consensus rating of “Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

The company’s fifty day simple moving average is $85.98 and its two-hundred day simple moving average is $86.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $9.73 billion, a P/E ratio of 20.39, a PEG ratio of 1.47 and a beta of 0.71.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.69% and a net margin of 9.85%. As a group, equities analysts forecast that Amdocs Limited will post 6.19 EPS for the current year.

Hedge Funds Weigh In On Amdocs

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Amdocs during the fourth quarter worth approximately $115,000. Ashton Thomas Private Wealth LLC grew its holdings in shares of Amdocs by 8.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 20,929 shares of the technology company’s stock worth $1,792,000 after purchasing an additional 1,597 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of Amdocs during the 4th quarter worth $234,000. Raymond James Financial Inc. bought a new position in shares of Amdocs in the fourth quarter worth $44,494,000. Finally, Proficio Capital Partners LLC bought a new stake in Amdocs during the fourth quarter worth about $1,906,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.