Amdocs (NASDAQ:DOX) Upgraded to Buy at Wall Street Zen

Amdocs (NASDAQ:DOX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

DOX has been the subject of several other reports. Stifel Nicolaus decreased their price objective on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Amdocs in a report on Friday, May 8th. Finally, Cfra lowered shares of Amdocs to a “sell” rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Amdocs currently has an average rating of “Hold” and an average price target of $86.67.

Amdocs Stock Up 4.2%

Shares of DOX stock opened at $51.97 on Friday. The stock’s 50 day simple moving average is $60.65 and its 200 day simple moving average is $69.12. Amdocs has a twelve month low of $49.79 and a twelve month high of $93.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 0.87 and a beta of 0.38.

Amdocs (NASDAQ:DOX) last announced its earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Amdocs had a return on equity of 19.77% and a net margin of 11.81%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that Amdocs will post 6.56 EPS for the current year.

Hedge Funds Weigh In On Amdocs

Several large investors have recently bought and sold shares of DOX. WealthCollab LLC increased its holdings in shares of Amdocs by 94.5% during the 3rd quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after purchasing an additional 173 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Amdocs in the fourth quarter valued at about $37,000. Los Angeles Capital Management LLC acquired a new stake in Amdocs during the fourth quarter worth about $39,000. Advisory Services Network LLC acquired a new stake in Amdocs during the third quarter worth about $42,000. Finally, CIBC Private Wealth Group LLC increased its stake in Amdocs by 190.2% during the third quarter. CIBC Private Wealth Group LLC now owns 595 shares of the technology company’s stock valued at $49,000 after acquiring an additional 390 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.