Amdocs (NASDAQ:DOX) Stock Rating Lowered by StockNews.com

Amdocs (NASDAQ:DOX) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday. They issued a “buy” rating and a $100.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.00.

Amdocs Trading Up 0.1 %

Shares of NASDAQ DOX opened at $88.16 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $10.36 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The firm has a 50-day moving average of $85.57 and a 200 day moving average of $83.73.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. Amdocs’s revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Amdocs will post 5.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Amdocs

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC grew its holdings in Amdocs by 0.4% in the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock valued at $2,150,000 after purchasing an additional 120 shares during the period. Raymond James Trust N.A. grew its stake in Amdocs by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock valued at $457,000 after acquiring an additional 129 shares during the period. Y.D. More Investments Ltd raised its position in Amdocs by 1.5% during the second quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock worth $741,000 after acquiring an additional 139 shares during the period. New York State Teachers Retirement System lifted its stake in Amdocs by 1.3% in the 1st quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock valued at $969,000 after buying an additional 141 shares in the last quarter. Finally, First Affirmative Financial Network increased its holdings in shares of Amdocs by 5.4% in the first quarter. First Affirmative Financial Network now owns 3,085 shares of the technology company’s stock valued at $279,000 after purchasing an additional 157 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.