Amdocs Limited (NASDAQ:DOX) – Analysts at Oppenheimer reduced their Q2 2018 earnings per share estimates for shares of Amdocs in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Oppenheimer analyst S. Eyal now expects that the technology company will earn $0.86 per share for the quarter, down from their prior estimate of $0.92. Oppenheimer currently has a “Buy” rating and a $77.00 price objective on the stock. Oppenheimer also issued estimates for Amdocs’ Q3 2018 earnings at $0.93 EPS, Q4 2018 earnings at $0.94 EPS, FY2018 earnings at $3.71 EPS and FY2019 earnings at $4.07 EPS.
Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.17. Amdocs had a return on equity of 15.13% and a net margin of 11.72%. The company had revenue of $977.70 million during the quarter, compared to the consensus estimate of $979.13 million. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Amdocs from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Friday, November 10th. BidaskClub downgraded shares of Amdocs from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 31st. Robert W. Baird reissued a “hold” rating and set a $66.00 target price on shares of Amdocs in a research report on Friday, October 20th. Finally, Stifel Nicolaus increased their target price on shares of Amdocs from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Amdocs has an average rating of “Hold” and a consensus price target of $70.71.
Shares of Amdocs (NASDAQ DOX) opened at $65.27 on Monday. The firm has a market cap of $9,401.92, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52. Amdocs has a 52-week low of $58.93 and a 52-week high of $71.37.
Several institutional investors have recently bought and sold shares of DOX. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Amdocs during the 4th quarter worth approximately $37,825,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Amdocs during the 3rd quarter worth approximately $29,105,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Amdocs during the 4th quarter worth approximately $21,330,000. LSV Asset Management boosted its holdings in shares of Amdocs by 17.1% during the 4th quarter. LSV Asset Management now owns 1,892,750 shares of the technology company’s stock worth $123,937,000 after buying an additional 275,850 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Amdocs by 17.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,780,570 shares of the technology company’s stock worth $116,592,000 after buying an additional 264,046 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Amdocs’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, March 28th. Amdocs’s dividend payout ratio is presently 28.39%.
Amdocs declared that its board has initiated a share repurchase program on Wednesday, November 8th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Amdocs Company Profile
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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