Amdocs (NASDAQ:DOX) Issues Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Amdocs (NASDAQ:DOXGet Free Report) announced its quarterly earnings data on Tuesday. The technology company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.40 by $0.16, Yahoo Finance reports. Amdocs had a net margin of 11.30% and a return on equity of 17.78%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the business posted $1.33 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year.

Amdocs Trading Down 1.6 %

NASDAQ DOX opened at $89.50 on Friday. The firm’s 50-day moving average is $89.00 and its two-hundred day moving average is $86.66. Amdocs has a 12 month low of $78.38 and a 12 month high of $99.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $10.50 billion, a P/E ratio of 19.16, a PEG ratio of 1.48 and a beta of 0.69.

Amdocs Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, March 29th will be given a $0.479 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.14%. This is a boost from Amdocs’s previous quarterly dividend of $0.44. Amdocs’s dividend payout ratio is presently 37.26%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DOX. GeoWealth Management LLC purchased a new stake in Amdocs during the first quarter worth about $80,000. Zions Bancorporation N.A. purchased a new stake in Amdocs during the first quarter worth about $83,000. Brown Brothers Harriman & Co. increased its stake in Amdocs by 787.2% during the first quarter. Brown Brothers Harriman & Co. now owns 1,180 shares of the technology company’s stock worth $97,000 after purchasing an additional 1,047 shares during the period. Belpointe Asset Management LLC increased its stake in Amdocs by 50.7% during the first quarter. Belpointe Asset Management LLC now owns 1,305 shares of the technology company’s stock worth $125,000 after purchasing an additional 439 shares during the period. Finally, Wahed Invest LLC increased its stake in Amdocs by 20.4% during the second quarter. Wahed Invest LLC now owns 1,703 shares of the technology company’s stock worth $168,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 90.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DOX. Barclays lifted their price objective on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Financial Group started coverage on shares of Amdocs in a report on Friday, December 1st. They set a “buy” rating and a $105.00 target price for the company. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Citigroup lifted their target price on shares of Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amdocs currently has an average rating of “Buy” and a consensus target price of $108.60.

View Our Latest Report on Amdocs

Amdocs Company Profile

(Get Free Report)

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.

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Earnings History for Amdocs (NASDAQ:DOX)

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