BidaskClub upgraded shares of Amdocs (NASDAQ:DOX) from a hold rating to a buy rating in a research report released on Saturday, BidAskClub reports.

A number of other research firms have also recently weighed in on DOX. TheStreet upgraded shares of Amdocs from a c+ rating to a b- rating in a research note on Tuesday, June 4th. ValuEngine upgraded shares of Amdocs from a sell rating to a hold rating in a research note on Wednesday, May 15th. Zacks Investment Research cut shares of Amdocs from a buy rating to a hold rating and set a $67.00 target price on the stock. in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Amdocs from $67.00 to $75.00 and gave the company a neutral rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $71.00.

Shares of DOX stock opened at $64.04 on Friday. Amdocs has a 52-week low of $52.60 and a 52-week high of $67.57. The stock has a 50-day moving average price of $63.17. The company has a market cap of $8.94 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.87 and a beta of 0.41.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.08. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Amdocs had a net margin of 9.90% and a return on equity of 15.73%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts expect that Amdocs will post 4.05 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 27th. Amdocs’s payout ratio is 30.48%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOX. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Amdocs in the second quarter valued at about $47,000. Morgan Dempsey Capital Management LLC lifted its stake in shares of Amdocs by 110.0% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock valued at $56,000 after buying an additional 474 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Amdocs by 47.8% during the 1st quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock valued at $57,000 after buying an additional 342 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Amdocs during the 2nd quarter valued at approximately $60,000. Finally, CENTRAL TRUST Co lifted its stake in shares of Amdocs by 56.2% during the 2nd quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock valued at $69,000 after buying an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 90.70% of the company’s stock.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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