Amdocs’ (DOX) Outperform Rating Reiterated at Oppenheimer Holdings Inc.
Oppenheimer Holdings Inc. reiterated their outperform rating on shares of Amdocs Ltd. (NASDAQ:DOX) in a research report report published on Thursday. Oppenheimer Holdings Inc. currently has a $65.00 price objective on the stock.
Several other research analysts have also recently issued reports on the company. Jefferies Group upped their price objective on Amdocs from $56.00 to $58.00 and gave the stock a hold rating in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. upped their price objective on Amdocs from $61.00 to $64.00 and gave the stock a neutral rating in a research report on Wednesday, July 27th. Citigroup Inc. upped their price objective on Amdocs from $63.00 to $66.00 and gave the stock a buy rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research cut Amdocs from a buy rating to a hold rating in a research report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $63.13.
Shares of Amdocs (NASDAQ:DOX) opened at 59.33 on Thursday. The company has a 50-day moving average of $59.52 and a 200-day moving average of $58.18. Amdocs has a 52 week low of $50.06 and a 52 week high of $61.33. The stock has a market capitalization of $8.83 billion, a P/E ratio of 22.43 and a beta of 0.68.
Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The business earned $930 million during the quarter, compared to analysts’ expectations of $928.81 million. Amdocs had a return on equity of 14.59% and a net margin of 10.93%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, analysts anticipate that Amdocs will post $3.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 30th will be given a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.31%. Amdocs’s dividend payout ratio (DPR) is presently 29.32%.
A number of hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Amdocs by 0.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,271 shares of the company’s stock valued at $131,000 after buying an additional 7 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Amdocs by 15.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,996 shares of the company’s stock valued at $180,000 after buying an additional 411 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in Amdocs by 0.3% in the second quarter. Wetherby Asset Management Inc. now owns 3,678 shares of the company’s stock valued at $212,000 after buying an additional 10 shares in the last quarter. Leavell Investment Management Inc. bought a new stake in Amdocs during the second quarter valued at approximately $229,000. Finally, Eqis Capital Management Inc. increased its stake in Amdocs by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 4,316 shares of the company’s stock valued at $249,000 after buying an additional 26 shares in the last quarter. 89.63% of the stock is owned by hedge funds and other institutional investors.
Amdocs Company Profile
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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