Amdocs (NASDAQ:DOX) Hits New 1-Year High on Earnings Beat

Amdocs Limited (NASDAQ:DOX)’s stock price hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $94.61 and last traded at $93.64, with a volume of 178664 shares traded. The stock had previously closed at $89.34.

The technology company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.71 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.12 billion. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The business’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the company earned $1.56 earnings per share.

Amdocs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, June 30th will be given a $0.527 dividend. This represents a $2.11 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Monday, June 30th. Amdocs’s dividend payout ratio (DPR) is currently 48.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Axxcess Wealth Management LLC boosted its position in Amdocs by 5.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company’s stock valued at $207,000 after buying an additional 124 shares during the period. Principal Securities Inc. grew its stake in Amdocs by 10.4% during the 4th quarter. Principal Securities Inc. now owns 1,341 shares of the technology company’s stock worth $114,000 after purchasing an additional 126 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Amdocs by 17.5% during the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company’s stock worth $90,000 after purchasing an additional 147 shares during the period. Corbyn Investment Management Inc. MD raised its position in Amdocs by 0.4% in the 1st quarter. Corbyn Investment Management Inc. MD now owns 38,866 shares of the technology company’s stock valued at $3,556,000 after purchasing an additional 152 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company’s stock worth $48,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Price Performance

The stock’s 50 day moving average is $87.36 and its two-hundred day moving average is $87.03. The stock has a market capitalization of $10.32 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20.

About Amdocs

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.