Amdocs Limited (NASDAQ:DOX) Announces $0.48 Quarterly Dividend

Amdocs Limited (NASDAQ:DOX) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.479 per share by the technology company on Friday, January 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, December 31st.

Amdocs has raised its dividend by an average of 9.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Amdocs has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Amdocs to earn $6.88 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 27.9%.

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $2.04 during mid-day trading on Thursday, reaching $85.71. 1,198,349 shares of the company’s stock were exchanged, compared to its average volume of 681,572. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74. The firm has a 50-day moving average price of $88.18 and a two-hundred day moving average price of $83.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DOX. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Barclays reduced their target price on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. Finally, Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has an average rating of “Buy” and a consensus target price of $101.83.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.