Amdocs Limited (DOX) Authorizes Stock Buyback Plan
Amdocs Limited (NASDAQ:DOX) declared that its board has authorized a stock buyback program, which allows the company to buyback $800.00 million in outstanding shares on Wednesday, November 8th, EventVestor reports. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several brokerages have commented on DOX. BidaskClub upgraded Amdocs Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Barclays PLC restated a “hold” rating and set a $68.00 price target on shares of Amdocs Limited in a research note on Friday, August 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 target price (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, August 4th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $66.00 target price on shares of Amdocs Limited in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $70.29.
Shares of Amdocs Limited (NASDAQ DOX) opened at $62.54 on Tuesday. Amdocs Limited has a 12 month low of $56.10 and a 12 month high of $67.98. The stock has a market capitalization of $9,087.60, a PE ratio of 17.66, a PEG ratio of 2.22 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. Amdocs Limited had a return on equity of 14.77% and a net margin of 11.30%. The business had revenue of $979.70 million during the quarter, compared to analyst estimates of $977.72 million. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts expect that Amdocs Limited will post 3.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.41%. Amdocs Limited’s dividend payout ratio (DPR) is presently 29.73%.
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Amdocs Limited 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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