Amdocs Limited (DOX) Rating Increased to Hold at Zacks Investment Research
Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Amdocs has underperformed the Zacks categorized IT Services industry in the last three months. The company is exposed to risks related to adverse foreign exchange movements and slow-paced growth in European and emerging markets that undermine its growth potential to some extent. High concentration risks and significant consolidation in the U.S. telecom industry remain additional headwinds. Heavy investments in emerging markets in order to boost sales may also contract margins. However, Amdocs has a positive earnings history in the trailing four quarters, while estimates have remained steady over the last month. The company further aims to improve its revenues with an innovative product portfolio. The company is also collaborating with major telecom players across the globe to strengthen its position in the market. In addition, the company raised its quarterly dividend by 12.8%.”
A number of other equities analysts have also recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $59.00 target price on shares of Amdocs Limited in a report on Friday, June 16th. Robert W. Baird raised their target price on Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, May 10th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective on shares of Amdocs Limited in a report on Wednesday, June 28th. BidaskClub cut Amdocs Limited from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $68.00 price objective on shares of Amdocs Limited in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $66.50.
Amdocs Limited (DOX) traded up 0.51% during mid-day trading on Monday, reaching $65.32. 198,109 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $64.51 and a 200-day moving average price of $61.38. Amdocs Limited has a 52 week low of $54.91 and a 52 week high of $66.48. The stock has a market cap of $9.57 billion, a P/E ratio of 23.68 and a beta of 0.54.
Amdocs Limited (NASDAQ:DOX) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. Amdocs Limited had a return on equity of 14.46% and a net margin of 10.84%. The firm had revenue of $966 million for the quarter, compared to analysts’ expectations of $960.58 million. During the same quarter last year, the business earned $0.92 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Amdocs Limited will post $3.79 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its position in Amdocs Limited by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,138 shares of the technology company’s stock valued at $1,411,000 after buying an additional 930 shares during the period. Park Avenue Securities LLC boosted its position in Amdocs Limited by 9.4% in the first quarter. Park Avenue Securities LLC now owns 5,615 shares of the technology company’s stock valued at $342,000 after buying an additional 484 shares during the period. ProShare Advisors LLC acquired a new position in Amdocs Limited during the first quarter valued at $224,000. First Manhattan Co. boosted its position in Amdocs Limited by 0.9% in the first quarter. First Manhattan Co. now owns 279,771 shares of the technology company’s stock valued at $16,184,000 after buying an additional 2,538 shares during the period. Finally, Nationwide Fund Advisors boosted its position in Amdocs Limited by 21.3% in the first quarter. Nationwide Fund Advisors now owns 271,324 shares of the technology company’s stock valued at $16,548,000 after buying an additional 47,594 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.
Amdocs Limited Company Profile
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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