Amdocs Limited (NASDAQ:DOX) announced a quarterly dividend on Tuesday, July 31st, Zacks reports. Investors of record on Friday, September 28th will be paid a dividend of 0.25 per share by the technology company on Friday, October 19th. This represents a $1.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, September 27th.
Amdocs has increased its dividend payment by an average of 12.8% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Amdocs has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amdocs to earn $4.05 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 24.7%.
Shares of DOX opened at $66.44 on Wednesday. Amdocs has a fifty-two week low of $61.00 and a fifty-two week high of $71.72. The firm has a market capitalization of $9.52 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 2.08 and a beta of 0.51.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Citigroup reduced their price target 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. BidaskClub cut shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Friday, July 27th. Barclays set a $73.00 price target on shares of Amdocs and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Finally, Robert W. Baird restated a “hold” rating and issued a $72.00 price target on shares of Amdocs in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $72.60.
Amdocs Company Profile
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.
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