Amdocs Limited (NASDAQ:DOX) to Issue Quarterly Dividend of $0.48

Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.479 per share by the technology company on Friday, January 31st. This represents a $1.92 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, December 31st.

Amdocs has increased its dividend payment by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Amdocs has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ DOX opened at $83.98 on Friday. The firm’s 50 day moving average is $88.18 and its 200-day moving average is $83.96. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $9.87 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DOX shares. Oppenheimer raised their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays decreased 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 assumed coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Finally, StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has an average rating of “Moderate 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.