Amdocs (NASDAQ:DOX) Reaches New 52-Week Low – What’s Next?

Amdocs Limited (NASDAQ:DOX) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $58.88 and last traded at $59.41, with a volume of 69371 shares changing hands. The stock had previously closed at $60.09.

Analyst Ratings Changes

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

Amdocs Trading Down 0.6%

The business’s 50-day moving average price is $63.70 and its two-hundred day moving average price is $71.12. The company has a market capitalization of $6.26 billion, a P/E ratio of 11.60, a PEG ratio of 1.01 and a beta of 0.38. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Amdocs had a net margin of 11.81% and a return on equity of 19.77%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. As a group, analysts forecast that Amdocs Limited will post 6.56 EPS for the current fiscal year.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.569 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, June 30th. Amdocs’s dividend payout ratio is 45.60%.

Institutional Investors Weigh In On Amdocs

Large investors have recently modified their holdings of the business. WealthCollab LLC increased its holdings in shares of Amdocs by 94.5% in the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after acquiring an additional 173 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Amdocs in the fourth quarter worth about $37,000. Abich Financial Wealth Management LLC bought a new stake in shares of Amdocs in the third quarter worth about $39,000. Los Angeles Capital Management LLC bought a new stake in shares of Amdocs in the fourth quarter worth about $39,000. Finally, Advisory Services Network LLC bought a new stake in shares of Amdocs in the third quarter worth about $42,000. 92.02% of the stock is currently owned by institutional investors.

Amdocs Company Profile

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.