Amdocs Limited (NASDAQ:DOX) Rating Increased to Hold at Zacks Investment Research
Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Amdocs has underperformed the Zacks categorized IT Services industry in the last three months. The company is exposed to risks related to adverse foreign exchange movements and slow-paced growth in European and emerging markets that undermine its growth potential to some extent. High concentration risks and significant consolidation in the U.S. telecom industry remain additional headwinds. Heavy investments in emerging markets in order to boost sales may also contract margins. However, Amdocs has a positive earnings history in the trailing four quarters, while estimates have remained steady over the last month. The company further aims to improve its revenues with an innovative product portfolio. The company is also collaborating with major telecom players across the globe to strengthen its position in the market. In addition, the company raised its quarterly dividend by 12.8%.”
DOX has been the subject of a number of other research reports. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $68.00 target price on shares of Amdocs Limited in a research report on Tuesday, May 9th. BidaskClub lowered shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Amdocs Limited in a research report on Wednesday, June 28th. Robert W. Baird increased their target price on shares of Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $59.00 target price on shares of Amdocs Limited in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $66.50.
Amdocs Limited (DOX) traded up 0.51% during mid-day trading on Monday, hitting $65.32. 198,109 shares of the stock traded hands. The stock has a 50-day moving average of $64.51 and a 200 day moving average of $61.38. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 23.68 and a beta of 0.54. Amdocs Limited has a 1-year low of $54.91 and a 1-year high of $66.48.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, May 9th. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $966 million during the quarter, compared to analyst estimates of $960.58 million. Amdocs Limited had a net margin of 10.84% and a return on equity of 14.46%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts expect that Amdocs Limited will post $3.79 EPS for the current year.
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A number of large investors have recently modified their holdings of the stock. KCG Holdings Inc. increased its stake in shares of Amdocs Limited by 118.7% in the first quarter. KCG Holdings Inc. now owns 15,275 shares of the technology company’s stock worth $932,000 after buying an additional 8,292 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Amdocs Limited during the second quarter worth $851,000. Legal & General Group Plc increased its stake in shares of Amdocs Limited by 14.2% in the first quarter. Legal & General Group Plc now owns 635,545 shares of the technology company’s stock worth $38,763,000 after buying an additional 78,796 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Amdocs Limited by 12.6% in the first quarter. Bank of America Corp DE now owns 1,318,784 shares of the technology company’s stock worth $80,433,000 after buying an additional 147,542 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Amdocs Limited by 1.5% in the fourth quarter. New York State Teachers Retirement System now owns 13,200 shares of the technology company’s stock worth $769,000 after buying an additional 200 shares during the last quarter. 91.05% 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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