Amdocs (NASDAQ:DOX) Reaches New 52-Week Low – Time to Sell?

Amdocs Limited (NASDAQ:DOX) reached a new 52-week low on Wednesday . The company traded as low as $55.11 and last traded at $56.34, with a volume of 44284 shares. The stock had previously closed at $56.01.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research report on Friday, May 8th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Cfra lowered shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Finally, Stifel Nicolaus cut their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.67.

Amdocs Price Performance

The company has a 50 day moving average price of $62.76 and a 200 day moving average price of $70.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $6.08 billion, a PE ratio of 11.27, a PEG ratio of 0.97 and a beta of 0.38.

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

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be issued a dividend of $0.569 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Amdocs’s dividend payout ratio is currently 45.60%.

Hedge Funds Weigh In On Amdocs

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of Amdocs by 29.1% in the first quarter. Bank of America Corp DE now owns 1,262,263 shares of the technology company’s stock valued at $82,375,000 after purchasing an additional 284,435 shares during the period. Edgestream Partners L.P. boosted its position in shares of Amdocs by 243.4% in the 1st quarter. Edgestream Partners L.P. now owns 50,055 shares of the technology company’s stock worth $3,267,000 after buying an additional 35,477 shares in the last quarter. Amundi grew its stake in Amdocs by 113.0% in the 1st quarter. Amundi now owns 22,956 shares of the technology company’s stock valued at $1,498,000 after acquiring an additional 12,181 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amdocs by 32.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,255 shares of the technology company’s stock valued at $147,000 after purchasing an additional 550 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Amdocs by 14.9% during the 1st quarter. Royal Bank of Canada now owns 446,125 shares of the technology company’s stock valued at $29,114,000 after buying an additional 57,740 shares during the last quarter. 92.02% of the stock is 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.