Amdocs (NASDAQ:DOX) Lowered to Buy at StockNews.com

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

A number of other analysts have also recently commented on the company. Citigroup reduced their price target on Amdocs from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Robert W. Baird reduced their target price on shares of Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Amdocs Stock Performance

DOX traded down $1.34 during midday trading on Thursday, hitting $85.67. 466,664 shares of the company traded hands, compared to its average volume of 694,476. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average is $83.11 and its 200 day moving average is $84.45. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The firm has a market capitalization of $10.07 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.56 and a beta of 0.73.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. Amdocs’s revenue was up 1.1% compared to the same quarter last year. On average, research analysts expect that Amdocs will post 5.67 EPS for the current year.

Institutional Trading of Amdocs

Institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP purchased a new stake in shares of Amdocs in the first quarter worth approximately $1,943,000. Royal London Asset Management Ltd. lifted its position in shares of Amdocs by 1.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 64,632 shares of the technology company’s stock worth $5,681,000 after purchasing an additional 1,217 shares during the last quarter. Running Oak Capital LLC boosted its stake in shares of Amdocs by 15.0% during the first quarter. Running Oak Capital LLC now owns 108,734 shares of the technology company’s stock valued at $9,826,000 after purchasing an additional 14,205 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Amdocs by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock worth $16,030,000 after purchasing an additional 12,178 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in Amdocs by 17.0% in the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after buying an additional 89,726 shares during the period. 92.02% of the stock is currently owned by institutional investors.

About Amdocs

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.