Amdocs’ (DOX) Buy Rating Reaffirmed at Oppenheimer

Amdocs (NASDAQ:DOX)‘s stock had its “buy” rating reissued by stock analysts at Oppenheimer in a report released on Thursday. They presently have a $77.00 target price on the technology company’s stock. Oppenheimer’s target price points to a potential upside of 19.07% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Amdocs from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Friday, November 10th. Robert W. Baird reaffirmed a “hold” rating and issued a $66.00 price objective on shares of Amdocs in a research note on Friday, September 1st. Jefferies Group reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Amdocs in a research note on Thursday, October 12th. Finally, BidaskClub raised shares of Amdocs from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Amdocs presently has a consensus rating of “Hold” and a consensus target price of $70.29.

Shares of Amdocs (DOX) traded down $0.24 during trading hours on Thursday, reaching $64.67. 981,000 shares of the company were exchanged, compared to its average volume of 693,033. The company has a market capitalization of $9,434.99, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52. Amdocs has a 1 year low of $56.10 and a 1 year high of $67.98.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.05. The firm had revenue of $979.70 million during the quarter, compared to analysts’ expectations of $977.72 million. Amdocs had a net margin of 11.30% and a return on equity of 14.77%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. analysts expect that Amdocs will post 3.72 EPS for the current year.

Amdocs announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 8th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Several large investors have recently modified their holdings of DOX. Janus Henderson Group PLC raised its holdings in shares of Amdocs by 105,711.6% during the 2nd quarter. Janus Henderson Group PLC now owns 7,431,146 shares of the technology company’s stock valued at $479,012,000 after purchasing an additional 7,424,123 shares in the last quarter. FIL Ltd raised its holdings in Amdocs by 157.9% in the 2nd quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock worth $266,696,000 after acquiring an additional 2,532,928 shares during the period. FMR LLC raised its holdings in Amdocs by 13.6% in the 2nd quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock worth $924,507,000 after acquiring an additional 1,722,080 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Amdocs in the 3rd quarter worth $29,105,000. Finally, Wells Fargo & Company MN raised its holdings in Amdocs by 6.0% in the 2nd quarter. Wells Fargo & Company MN now owns 4,685,936 shares of the technology company’s stock worth $302,057,000 after acquiring an additional 266,473 shares during the period. 93.25% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Amdocs (NASDAQ:DOX)

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