Zacks Investment Research cut shares of Amdocs Limited (NASDAQ:DOX) from a hold rating to a sell rating in a research note published on Tuesday, July 11th.
According to Zacks, “Amdocs is highly exposed to foreign currency exchange rate risk. Economic and political uncertainty in Europe may further jeopardize the company’s financials, going forward. Amdocs is also susceptible to high concentration risks as nearly three-fourth of total revenues comes from the top 10 clients. Loss of any of these customers is likely to result in considerable top-line erosion. Significant consolidation in the U.S. telecom industry remains another headwind, leading to loss of businesses. Amdocs has underperformed the industry year to date. In addition, heavy investments in the emerging markets in order to boost sales are likely to contract margins. However, Amdocs aims to improve its revenues with an innovative product portfolio and has increased its revenue guidance on favorable growth dynamics and strength in the business model.”
Other equities research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Amdocs Limited from a hold rating to a sell rating in a research report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a buy rating and issued a $68.00 price target on shares of Amdocs Limited in a research report on Wednesday, June 28th. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $68.00 price target on shares of Amdocs Limited in a research report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a hold rating and issued a $59.00 price target on shares of Amdocs Limited in a research report on Friday, June 16th. Finally, Robert W. Baird upped their price target on shares of Amdocs Limited from $62.00 to $66.00 and gave the stock a neutral rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $67.63.
Shares of Amdocs Limited (NASDAQ DOX) opened at 65.50 on Tuesday. Amdocs Limited has a one year low of $54.91 and a one year high of $67.98. The firm has a 50-day moving average of $65.36 and a 200 day moving average of $62.53. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.76 and a beta of 0.54.
Amdocs Limited (NASDAQ:DOX) last issued its earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.06. The business had revenue of $967 million for the quarter, compared to the consensus estimate of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.73%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities research analysts predict that Amdocs Limited will post $3.83 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.34%. Amdocs Limited’s payout ratio is 30.66%.
Large investors have recently bought and sold shares of the stock. OLD National Bancorp IN boosted its stake in Amdocs Limited by 0.6% in the second quarter. OLD National Bancorp IN now owns 4,358 shares of the technology company’s stock worth $281,000 after buying an additional 25 shares during the last quarter. Smith Moore & CO. boosted its stake in Amdocs Limited by 1.0% in the first quarter. Smith Moore & CO. now owns 5,371 shares of the technology company’s stock worth $328,000 after buying an additional 53 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Amdocs Limited by 0.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 12,414 shares of the technology company’s stock worth $757,000 after buying an additional 55 shares during the last quarter. Financial Counselors Inc. raised its position in shares of Amdocs Limited by 1.4% in the first quarter. Financial Counselors Inc. now owns 5,127 shares of the technology company’s stock worth $313,000 after buying an additional 70 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Amdocs Limited by 2.6% in the second quarter. Huntington National Bank now owns 4,565 shares of the technology company’s stock worth $295,000 after buying an additional 117 shares during the last quarter. 89.97% of the stock is owned by institutional investors.
About Amdocs Limited
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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