Amdocs (NASDAQ:DOX) Stock Rating Lowered by Wall Street Zen

Amdocs (NASDAQ:DOX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Amdocs from $71.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Oppenheimer lowered shares of Amdocs from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Weiss Ratings raised Amdocs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.33.

Amdocs Price Performance

DOX stock opened at $42.09 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $59.49 and its 200 day moving average is $61.98. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.42. Amdocs has a 1-year low of $40.48 and a 1-year high of $85.63.

Amdocs (NASDAQ:DOX) last announced its earnings results on Tuesday, November 3rd. The technology company reported $1.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.98. Amdocs had a net margin of 10.59% and a return on equity of 20.81%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm posted $1.83 earnings per share. Amdocs’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts predict that Amdocs will post 7.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its position in shares of Amdocs by 16.4% in the third quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company’s stock valued at $74,000 after acquiring an additional 182 shares during the period. Alpine Bank Wealth Management raised its stake in shares of Amdocs by 58.2% during the third quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company’s stock valued at $29,000 after acquiring an additional 184 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Amdocs by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,443 shares of the technology company’s stock worth $420,000 after purchasing an additional 218 shares during the period. Covestor Ltd boosted its holdings in shares of Amdocs by 11.8% during the third quarter. Covestor Ltd now owns 2,461 shares of the technology company’s stock worth $141,000 after purchasing an additional 259 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in shares of Amdocs by 8.5% during the second quarter. Fulton Bank N.A. now owns 4,667 shares of the technology company’s stock worth $236,000 after purchasing an additional 367 shares during the period. 92.02% of the stock is currently owned by institutional investors.

About Amdocs