Amdocs Limited (NASDAQ:DOX) Announces $0.48 Quarterly Dividend

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.479 per share by the technology company on Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, September 30th.

Amdocs has increased its dividend by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 13 years. Amdocs has a payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amdocs to earn $6.49 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 29.6%.

Amdocs Trading Down 0.2 %

Shares of NASDAQ DOX traded down $0.19 during trading hours on Friday, reaching $83.76. The stock had a trading volume of 112,719 shares, compared to its average volume of 716,192. The firm has a market cap of $9.84 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.52 and a beta of 0.73. Amdocs has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $80.20 and its two-hundred day moving average price is $85.40.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.25 billion. Amdocs had a net margin of 10.62% and a return on equity of 17.85%. Amdocs’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Analysts expect that Amdocs will post 5.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DOX has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Citigroup reduced 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, May 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.50.

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.