Amdocs (NASDAQ:DOX) Rating Increased to Strong-Buy at StockNews.com

Amdocs (NASDAQ:DOX) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Amdocs Stock Performance

NASDAQ DOX opened at $86.49 on Friday. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.52 and a beta of 0.74. The company has a fifty day moving average price of $84.08 and a 200-day moving average price of $84.19. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24.

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

Institutional Trading of Amdocs

Several institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC grew its holdings in shares of Amdocs by 33.2% during the 2nd quarter. Pzena Investment Management LLC now owns 5,667,603 shares of the technology company’s stock worth $447,287,000 after acquiring an additional 1,412,826 shares during the period. LSV Asset Management boosted its holdings in shares of Amdocs by 7.9% during the 2nd quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after purchasing an additional 234,096 shares during the last quarter. Brandes Investment Partners LP raised its position in Amdocs by 31.1% during the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock valued at $178,335,000 after purchasing an additional 536,359 shares during the period. Vanguard Group Inc. raised its holdings in shares of Amdocs by 39.5% in the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after buying an additional 576,168 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Amdocs by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after purchasing an additional 94,856 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other 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.