Amdocs Limited (NASDAQ:DOX) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Other analysts have also issued reports about the company. Barclays PLC reissued a “hold” rating and set a $68.00 price target on shares of Amdocs Limited in a research note on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Zacks Investment Research raised Amdocs Limited from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Friday, August 4th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $70.00 price target on shares of Amdocs Limited in a research note on Tuesday, September 5th. Finally, Robert W. Baird reissued a “hold” rating and set a $66.00 price target on shares of Amdocs Limited in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Amdocs Limited presently has a consensus rating of “Hold” and a consensus price target of $67.63.

Shares of Amdocs Limited (DOX) traded down 1.45% during mid-day trading on Friday, reaching $62.49. The company’s stock had a trading volume of 5,138,550 shares. The company has a 50-day moving average of $64.29 and a 200-day moving average of $63.44. The firm has a market cap of $9.08 billion, a PE ratio of 21.77 and a beta of 0.53. Amdocs Limited has a 12 month low of $54.91 and a 12 month high of $67.98.

Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.06. The business had revenue of $967.00 million for the quarter, compared to analyst estimates of $967.04 million. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. Amdocs Limited’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. On average, analysts predict that Amdocs Limited will post $3.81 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in shares of Amdocs Limited during the second quarter worth about $851,000. KCG Holdings Inc. raised its position in shares of Amdocs Limited by 118.7% during the first quarter. KCG Holdings Inc. now owns 15,275 shares of the technology company’s stock worth $932,000 after acquiring an additional 8,292 shares during the last quarter. Legal & General Group Plc raised its position in shares of Amdocs Limited by 14.2% during the first quarter. Legal & General Group Plc now owns 635,545 shares of the technology company’s stock worth $38,763,000 after acquiring an additional 78,796 shares during the last quarter. Bank of America Corp DE raised its position in shares of Amdocs Limited by 12.6% during the first quarter. Bank of America Corp DE now owns 1,318,784 shares of the technology company’s stock worth $80,433,000 after acquiring an additional 147,542 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Amdocs Limited by 647.3% during the first quarter. Tower Research Capital LLC TRC now owns 4,566 shares of the technology company’s stock worth $278,000 after acquiring an additional 3,955 shares during the last quarter. 89.31% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Amdocs Limited (NASDAQ:DOX)

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