Amdocs’ (DOX) Buy Rating Reiterated at Oppenheimer
Amdocs (NASDAQ:DOX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Oppenheimer in a research note issued to investors on Thursday. They presently have a $77.00 price target on the technology company’s stock. Oppenheimer’s price target suggests a potential upside of 19.07% from the company’s current price.
DOX has been the topic of several other research reports. BidaskClub downgraded Amdocs from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 16th. Zacks Investment Research downgraded Amdocs from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Jefferies Group reissued a “hold” rating and set a $70.00 target price on shares of Amdocs in a research report on Thursday, October 12th. Finally, Robert W. Baird reissued a “hold” rating and set a $66.00 target price on shares of Amdocs in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $70.29.
Amdocs (DOX) traded down $0.24 during trading hours on Thursday, reaching $64.67. The company’s stock had a trading volume of 981,000 shares, compared to its average volume of 693,033. Amdocs has a 1-year low of $56.10 and a 1-year high of $67.98. The company has a market cap of $9,434.99, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.23 and a beta of 0.52.
Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.05. Amdocs had a return on equity of 14.77% and a net margin of 11.30%. The business had revenue of $979.70 million for the quarter, compared to the consensus estimate of $977.72 million. During the same quarter in the previous year, the company posted $0.89 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. equities analysts forecast that Amdocs will post 3.72 earnings per share for the current fiscal year.
Amdocs announced that its Board of Directors has authorized a share repurchase program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of DOX. BB&T Investment Services Inc. purchased a new stake in shares of Amdocs during the 2nd quarter worth $118,000. Acrospire Investment Management LLC purchased a new stake in shares of Amdocs during the 2nd quarter worth $155,000. Robecosam AG lifted its stake in shares of Amdocs by 37.8% during the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock worth $163,000 after purchasing an additional 700 shares during the last quarter. Sawtooth Solutions LLC purchased a new stake in shares of Amdocs during the 2nd quarter worth $220,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Amdocs during the 2nd quarter worth $222,000. Hedge funds and other institutional investors own 93.25% of the company’s stock.
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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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