Amdocs Limited (NASDAQ:DOX) has earned an average recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $72.37.

DOX has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. BidaskClub downgraded shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Barclays set a $73.00 target price on shares of Amdocs and gave the company a “hold” rating in a research report on Wednesday, August 1st. Citigroup dropped their target price on shares of Amdocs from $79.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $72.00 target price on shares of Amdocs in a research report on Thursday, August 2nd.

Shares of NASDAQ DOX opened at $66.40 on Friday. The company has a market capitalization of $9.51 billion, a PE ratio of 18.70, a PEG ratio of 2.08 and a beta of 0.52. Amdocs has a 52-week low of $61.00 and a 52-week high of $71.72.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, July 31st. The technology company reported $0.97 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.97. Amdocs had a net margin of 10.56% and a return on equity of 15.00%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. equities research analysts forecast that Amdocs will post 3.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, September 28th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. Amdocs’s payout ratio is presently 28.17%.

Hedge funds have recently made changes to their positions in the business. Stevens Capital Management LP increased its stake in Amdocs by 663.4% during the 2nd quarter. Stevens Capital Management LP now owns 41,124 shares of the technology company’s stock valued at $2,722,000 after purchasing an additional 35,737 shares in the last quarter. Carillon Tower Advisers Inc. increased its stake in Amdocs by 49.2% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 55,700 shares of the technology company’s stock valued at $3,686,000 after purchasing an additional 18,357 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Amdocs by 620.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 269,165 shares of the technology company’s stock valued at $17,816,000 after purchasing an additional 231,822 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Amdocs by 8.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 11,650 shares of the technology company’s stock valued at $771,000 after purchasing an additional 944 shares in the last quarter. Finally, Fort L.P. bought a new stake in Amdocs during the 2nd quarter valued at $118,000. Institutional investors and hedge funds own 90.87% of the company’s stock.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, pay TV, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions.

See Also: Earnings Per Share (EPS) Explained

Analyst Recommendations for Amdocs (NASDAQ:DOX)

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