Amdocs (NASDAQ:DOX) Downgraded by Wall Street Zen to “Hold”

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

A number of other research analysts also recently commented on DOX. Cfra downgraded shares of Amdocs to a “sell” rating in a research note on Thursday, May 14th. Stifel Nicolaus decreased their target price on shares of Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. KeyCorp started coverage on shares of Amdocs in a research report on Monday, June 29th. They set a “sector weight” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Amdocs in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.67.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $51.75 on Friday. The company has a market cap of $5.59 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.90 and a beta of 0.41. The business has a fifty day simple moving average of $59.12 and a 200-day simple moving average of $68.18. Amdocs has a 52 week low of $49.79 and a 52 week high of $93.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last released its earnings results on Thursday, May 14th. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Amdocs will post 6.56 EPS for the current year.

Hedge Funds Weigh In On Amdocs

Several hedge funds and other institutional investors have recently modified their holdings of DOX. Amundi raised its holdings in Amdocs by 73.0% in the first quarter. Amundi now owns 13,778 shares of the technology company’s stock valued at $1,217,000 after buying an additional 5,816 shares during the period. Millennium Management LLC lifted its position in Amdocs by 458.3% during the first quarter. Millennium Management LLC now owns 67,047 shares of the technology company’s stock valued at $6,135,000 after buying an additional 55,038 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Amdocs by 12.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,146 shares of the technology company’s stock worth $30,300,000 after buying an additional 37,087 shares during the period. Empowered Funds LLC grew its stake in Amdocs by 12.0% during the first quarter. Empowered Funds LLC now owns 15,979 shares of the technology company’s stock worth $1,462,000 after buying an additional 1,709 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Amdocs by 195.4% in the first quarter. Jane Street Group LLC now owns 115,929 shares of the technology company’s stock worth $10,608,000 after acquiring an additional 76,683 shares in the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

About Amdocs

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.