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 report released on Wednesday.

Separately, Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday. They issued a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Amdocs presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Amdocs Stock Performance

Shares of DOX traded up $0.65 during trading hours on Wednesday, reaching $88.03. 500,607 shares of the company traded hands, compared to its average volume of 695,143. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $10.35 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.54 and a beta of 0.74. The stock’s fifty day moving average is $85.41 and its 200 day moving average is $83.67.

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 the consensus estimate of $1.60 by $0.02. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Amdocs will post 5.67 earnings per share for the current fiscal year.

Institutional Trading of Amdocs

Hedge funds have recently modified their holdings of the stock. Norwood Financial Corp bought a new stake in shares of Amdocs during the first quarter valued at approximately $33,000. Central Pacific Bank Trust Division bought a new position in Amdocs in the first quarter valued at approximately $53,000. Riverview Trust Co bought a new position in Amdocs in the first quarter valued at approximately $55,000. Quarry LP boosted its stake in Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after acquiring an additional 412 shares during the last quarter. Finally, American National Bank bought a new position in Amdocs in the second quarter valued at approximately $76,000. 92.02% of the stock is owned by institutional investors.

Amdocs Company Profile

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.