Amdocs Limited (NASDAQ:DOX) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

Several other brokerages have also weighed in on DOX. Zacks Investment Research lowered shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price objective (up previously from $68.00) on shares of Amdocs Limited in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 price objective on shares of Amdocs Limited in a research report on Friday, June 16th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Amdocs Limited in a research report on Tuesday, May 9th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $68.00 price objective on shares of Amdocs Limited in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $67.63.

Shares of Amdocs Limited (NASDAQ:DOX) opened at 63.26 on Thursday. Amdocs Limited has a 1-year low of $54.91 and a 1-year high of $67.98. The firm’s 50-day moving average is $65.26 and its 200 day moving average is $62.85. The stock has a market capitalization of $9.23 billion, a P/E ratio of 21.98 and a beta of 0.54.

Amdocs Limited (NASDAQ:DOX) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.06. The business had revenue of $967 million during the quarter, compared to analyst estimates of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, analysts expect that Amdocs Limited will post $3.81 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board raised its position in shares of Amdocs Limited by 107.2% in the first quarter. Canada Pension Plan Investment Board now owns 49,418 shares of the technology company’s stock valued at $3,014,000 after buying an additional 25,566 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Amdocs Limited by 4.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,812 shares of the technology company’s stock valued at $232,000 after buying an additional 162 shares during the period. Russell Investments Group Ltd. increased its position in shares of Amdocs Limited by 3.3% in the first quarter. Russell Investments Group Ltd. now owns 321,902 shares of the technology company’s stock valued at $19,635,000 after buying an additional 10,381 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Amdocs Limited by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,138 shares of the technology company’s stock valued at $1,411,000 after buying an additional 930 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of Amdocs Limited by 9.4% in the first quarter. Park Avenue Securities LLC now owns 5,615 shares of the technology company’s stock valued at $342,000 after buying an additional 484 shares during the period. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Limited Company Profile

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.

Analyst Recommendations for Amdocs Limited (NASDAQ:DOX)

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