Amdocs (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Amdocs has underperformed the industry in the last three months. The company is highly exposed to foreign currency exchange rate risk. Amdocs saw a sharp decline in revenues from Europe and international markets. Economic and political uncertainty in Europe may further jeopardize the company’s financials, going forward. High concentration risk remains another significant challenge. However, solid execution across multiple dimensions of its business and continuous project wins remain positives. Over the years, Amdocs has successfully combined its core billing and rating technology with customer relationship management software to emerge as a leader in the market of business support systems. With strategic acquisitions, the company has further evolved as a unique vendor providing both end-to-end business support solutions and operating support solutions to the carrier marketplace. Amdocs has also offered a bullish guidance for 2018.”

DOX has been the subject of a number of other research reports. Robert W. Baird reiterated a “hold” rating and set a $66.00 price objective on shares of Amdocs in a report on Friday, October 20th. Jefferies Group reiterated a “hold” rating and set a $70.00 price objective on shares of Amdocs in a report on Thursday, October 12th. Oppenheimer reiterated a “buy” rating and set a $77.00 price objective on shares of Amdocs in a report on Thursday, December 14th. Finally, BidaskClub upgraded shares of Amdocs from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Amdocs presently has a consensus rating of “Hold” and an average price target of $70.29.

Amdocs (NASDAQ:DOX) traded up $0.60 during trading on Tuesday, hitting $67.59. 516,500 shares of the stock traded hands, compared to its average volume of 693,744. The company has a market cap of $9,727.17, a price-to-earnings ratio of 22.83, a PEG ratio of 2.32 and a beta of 0.52. Amdocs has a 12-month low of $56.10 and a 12-month high of $67.98.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. Amdocs had a net margin of 11.30% and a return on equity of 14.77%. The company had revenue of $979.70 million during the quarter, compared to analyst estimates of $977.72 million. During the same quarter last year, the business posted $0.89 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. analysts anticipate that Amdocs will post 3.72 earnings per share for the current fiscal year.

Amdocs announced that its board has approved a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $800.00 million in shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several large investors have recently bought and sold shares of DOX. Janus Henderson Group PLC raised its holdings in shares of Amdocs by 105,711.6% in 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 shares of Amdocs by 157.9% in the 2nd quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock valued at $266,696,000 after purchasing an additional 2,532,928 shares in the last quarter. FMR LLC raised its holdings in shares of Amdocs by 13.6% in the 2nd quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock valued at $924,507,000 after purchasing an additional 1,722,080 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Amdocs in the 3rd quarter valued at about $29,105,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Amdocs by 5.3% in the 3rd quarter. Wells Fargo & Company MN now owns 4,932,692 shares of the technology company’s stock valued at $317,271,000 after purchasing an additional 246,756 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

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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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