Brokers Offer Predictions for Amdocs Limited’s FY2023 Earnings (NASDAQ:DOX)

Amdocs Limited (NASDAQ:DOX) – Investment analysts at Zacks Research decreased their FY2023 earnings per share (EPS) estimates for shares of Amdocs in a report issued on Tuesday, August 22nd. Zacks Research analyst A. Bhagat now expects that the technology company will post earnings per share of $5.31 for the year, down from their previous forecast of $5.34. The consensus estimate for Amdocs’ current full-year earnings is $5.33 per share. Zacks Research also issued estimates for Amdocs’ Q4 2023 earnings at $1.28 EPS, Q1 2024 earnings at $1.40 EPS, Q2 2024 earnings at $1.45 EPS, Q3 2024 earnings at $1.51 EPS, Q4 2024 earnings at $1.51 EPS, FY2024 earnings at $5.88 EPS, Q1 2025 earnings at $1.59 EPS, Q2 2025 earnings at $1.66 EPS, Q3 2025 earnings at $1.72 EPS and FY2025 earnings at $6.72 EPS.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.08. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Amdocs had a return on equity of 17.60% and a net margin of 11.80%.

Other research analysts have also recently issued research reports about the company. Bank of America increased their price objective on Amdocs from $100.00 to $110.00 in a research report on Friday, June 16th. 888 restated a “reiterates” rating on shares of Amdocs in a research report on Thursday, May 11th. StockNews.com assumed coverage on Amdocs in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Oppenheimer raised their price target on Amdocs from $99.00 to $109.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Barclays upgraded Amdocs from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $115.00 in a research report on Tuesday, May 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Amdocs currently has an average rating of “Moderate Buy” and a consensus price target of $106.00.

Amdocs Stock Up 0.2 %

DOX stock opened at $87.34 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.49 and a beta of 0.65. The business’s fifty day moving average price is $93.50 and its two-hundred day moving average price is $93.54. Amdocs has a fifty-two week low of $78.02 and a fifty-two week high of $99.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DOX. VisionPoint Advisory Group LLC bought a new position in Amdocs in the second quarter valued at about $28,000. Tucker Asset Management LLC acquired a new stake in shares of Amdocs during the first quarter valued at about $34,000. Machina Capital S.A.S. acquired a new stake in shares of Amdocs during the first quarter valued at about $41,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Amdocs during the fourth quarter valued at about $47,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Amdocs by 106.4% during the second quarter. Exchange Traded Concepts LLC now owns 642 shares of the technology company’s stock valued at $63,000 after purchasing an additional 331 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, September 28th. Amdocs’s dividend payout ratio is presently 37.26%.

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 CES21, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; the Commerce and Care suite for order capture, handling, and customer engagement; 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; MarketONE, a cloud-native business ecosystem; Digital Brands Suite, a pre-integrated digital business suite for digital telecom brands and small-scale service providers; and eSIM Cloud for service providers.