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

Amdocs (NASDAQ:DOX) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

Separately, Stifel Nicolaus began coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and an average price target of $102.00.

Amdocs Trading Up 0.5 %

Shares of Amdocs stock opened at $88.25 on Thursday. The firm has a 50-day moving average of $85.64 and a 200-day moving average of $83.60. The stock has a market cap of $10.37 billion, a PE ratio of 19.83, a PEG ratio of 1.42 and a beta of 0.74. Amdocs has a 52-week low of $74.41 and a 52-week 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.

Amdocs (NASDAQ:DOX) last announced its earnings results 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 company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. Amdocs’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, sell-side analysts forecast that Amdocs will post 5.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norwood Financial Corp acquired a new position in Amdocs during the first quarter worth about $33,000. Central Pacific Bank Trust Division acquired a new position in shares of Amdocs in the first quarter valued at approximately $53,000. Riverview Trust Co acquired a new position in shares of Amdocs in the first quarter valued at approximately $55,000. Quarry LP increased its stake in shares of 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 buying an additional 412 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the period. 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.