Amdocs Limited (DOX) Stock Rating Upgraded by Zacks Investment Research
Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Amdocs has underperformed the Zacks categorized IT Services industry in the last three months. The company is exposed to risks related to adverse foreign exchange movements and slow-paced growth in European and emerging markets that undermine its growth potential to some extent. High concentration risks and significant consolidation in the U.S. telecom industry remain additional headwinds. Heavy investments in emerging markets in order to boost sales may also contract margins. However, Amdocs has a positive earnings history in the trailing four quarters, while estimates have remained steady over the last month. The company further aims to improve its revenues with an innovative product portfolio. The company is also collaborating with major telecom players across the globe to strengthen its position in the market. In addition, the company raised its quarterly dividend by 12.8%.”
Several other analysts have also recently commented on DOX. Robert W. Baird upped their target price on shares of Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, May 10th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $68.00 target price on shares of Amdocs Limited in a research report on Tuesday, May 9th. Jefferies Group LLC reiterated a “hold” rating and set a $59.00 target price on shares of Amdocs Limited in a research report on Friday, June 16th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 target price on shares of Amdocs Limited in a research report on Wednesday, June 28th. Finally, BidaskClub cut shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Amdocs Limited has a consensus rating of “Hold” and an average target price of $66.50.
Amdocs Limited (NASDAQ:DOX) traded up 0.52% during midday trading on Monday, hitting $65.33. The stock had a trading volume of 270,304 shares. Amdocs Limited has a one year low of $54.91 and a one year high of $66.48. The company has a market cap of $9.57 billion, a P/E ratio of 23.68 and a beta of 0.54. The stock’s 50-day moving average is $64.51 and its 200-day moving average is $61.38.
Amdocs Limited (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, May 9th. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Amdocs Limited had a net margin of 10.84% and a return on equity of 14.46%. The firm had revenue of $966 million during the quarter, compared to analysts’ expectations of $960.58 million. During the same quarter in the previous year, the company posted $0.92 EPS. Amdocs Limited’s revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Amdocs Limited will post $3.79 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its position in shares of Amdocs Limited by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 13,200 shares of the technology company’s stock valued at $769,000 after buying an additional 200 shares during the period. Guggenheim Capital LLC raised its position in shares of Amdocs Limited by 2.1% in the fourth quarter. Guggenheim Capital LLC now owns 53,931 shares of the technology company’s stock valued at $3,143,000 after buying an additional 1,089 shares during the period. Teachers Advisors LLC raised its position in shares of Amdocs Limited by 24.4% in the fourth quarter. Teachers Advisors LLC now owns 185,619 shares of the technology company’s stock valued at $10,812,000 after buying an additional 36,451 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Amdocs Limited by 0.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 12,414 shares of the technology company’s stock valued at $757,000 after buying an additional 55 shares during the period. Finally, Creative Planning raised its position in shares of Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock valued at $134,000 after buying an additional 847 shares during the period. 91.05% of the stock is owned by institutional investors.
About Amdocs Limited
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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