Amdocs (NASDAQ:DOX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Amdocs (NASDAQ:DOX) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Cfra lowered shares of Amdocs to a “sell” rating in a research report on Thursday, May 14th. KeyCorp assumed coverage on Amdocs in a research note on Monday, June 29th. They set a “sector weight” rating for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Amdocs in a report on Wednesday, August 5th. Finally, Stifel Nicolaus decreased their target price on Amdocs from $88.00 to $71.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Hold” and an average price target of $86.67.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $63.06 on Friday. Amdocs has a twelve month low of $49.74 and a twelve month high of $86.14. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average of $55.32 and a two-hundred day moving average of $61.06. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.09 and a beta of 0.40.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $1.84 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.84. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Amdocs will post 6.56 earnings per share for the current fiscal year.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.569 per share. This represents a $2.28 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, September 30th. Amdocs’s payout ratio is presently 54.29%.

Institutional Trading of Amdocs

Hedge funds have recently modified their holdings of the business. California State Teachers Retirement System boosted its position in shares of Amdocs by 1,194.0% in the second quarter. California State Teachers Retirement System now owns 75,456 shares of the technology company’s stock worth $3,814,000 after buying an additional 69,625 shares during the period. TD Waterhouse Canada Inc. lifted its stake in Amdocs by 14.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 247,521 shares of the technology company’s stock worth $12,682,000 after acquiring an additional 30,555 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in Amdocs by 3.6% in the 2nd quarter. Rehmann Capital Advisory Group now owns 15,351 shares of the technology company’s stock worth $776,000 after acquiring an additional 529 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Amdocs during the 2nd quarter worth about $92,000. Finally, Greenleaf Trust acquired a new stake in Amdocs during the 2nd quarter worth about $201,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.