Amdocs (NASDAQ:DOX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Amdocs has underperformed the industry in the last three months. The company is highly exposed to foreign currency exchange rate risk. Amdocs saw a sharp decline in revenues from Europe and international markets. Economic and political uncertainty in Europe may further jeopardize the company’s financials, going forward. High concentration risk remains another significant challenge. Amdocs is a relatively minor supplier of billing systems for the cable industry. The company’s entry into other business segments, such as financial services outsourcing and non-telecom customer relationship management software, may not be as successful as anticipated. Moreover, the consolidation trend in the U.S. telecom industry may significantly affect the company in future. However, solid execution across multiple dimensions of its business and continuous project wins remain positives.”

Other analysts have also issued reports about the company. BidaskClub lowered Amdocs from a “sell” rating to a “strong sell” rating in a report on Saturday, September 16th. Jefferies Group reissued a “hold” rating and set a $70.00 price objective on shares of Amdocs in a report on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and set a $66.00 price objective on shares of Amdocs in a report on Friday, October 20th. Finally, Oppenheimer reissued a “buy” rating and set a $77.00 price objective on shares of Amdocs in a report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $70.29.

Shares of Amdocs (NASDAQ DOX) traded up $0.60 during trading on Tuesday, reaching $67.59. The company had a trading volume of 516,542 shares, compared to its average volume of 536,881. Amdocs has a twelve month low of $56.10 and a twelve month high of $67.98. The company has a market cap of $9,640.82, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.30 and a beta of 0.52.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. Amdocs had a return on equity of 14.77% and a net margin of 11.30%. The business had revenue of $979.70 million during the quarter, compared to analyst estimates of $977.72 million. During the same period in the previous year, the company posted $0.89 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. research analysts forecast that Amdocs will post 3.72 EPS for the current year.

Amdocs announced that its Board of Directors has approved a share repurchase program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of DOX. BB&T Investment Services Inc. bought a new stake in Amdocs during the 2nd quarter worth approximately $118,000. Acrospire Investment Management LLC purchased a new position in shares of Amdocs in the 2nd quarter worth approximately $155,000. Robecosam AG boosted its stake in shares of Amdocs by 37.8% in the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock worth $163,000 after buying an additional 700 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Amdocs in the 2nd quarter worth approximately $222,000. Finally, CWA Asset Management Group LLC boosted its stake in shares of Amdocs by 1.8% in the 2nd quarter. CWA Asset Management Group LLC now owns 3,536 shares of the technology company’s stock worth $228,000 after buying an additional 61 shares during the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

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About Amdocs

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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