Amdocs (NASDAQ:DOX) Downgraded by StockNews.com

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

Several other equities research analysts have also commented on the stock. Citigroup lowered their price target on shares of Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Robert W. Baird decreased their price target on Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Amdocs Trading Down 0.9 %

Shares of NASDAQ:DOX opened at $84.91 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs has a 52-week low of $74.41 and a 52-week high of $94.04. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.56 and a beta of 0.73. The business has a 50-day moving average price of $83.26 and a 200-day moving average price of $84.46.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. Amdocs’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. Equities analysts predict that Amdocs will post 5.67 EPS for the current year.

Institutional Investors Weigh In On Amdocs

Institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC boosted its holdings in Amdocs by 0.4% in the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock worth $2,150,000 after buying an additional 120 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Amdocs by 2.3% in the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock valued at $457,000 after acquiring an additional 129 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Amdocs by 1.5% in the second quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock worth $741,000 after acquiring an additional 139 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Amdocs by 1.3% during the first quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock worth $969,000 after purchasing an additional 141 shares in the last quarter. Finally, First Affirmative Financial Network raised its stake in Amdocs by 5.4% in the 1st quarter. First Affirmative Financial Network now owns 3,085 shares of the technology company’s stock valued at $279,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

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.