Amdocs (NASDAQ:DOX) Rating Lowered to “Hold” at Wall Street Zen

Amdocs (NASDAQ:DOX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Wolfe Research began coverage on Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.33.

Amdocs Trading Down 1.0%

NASDAQ:DOX opened at $84.49 on Friday. The firm has a market cap of $9.54 billion, a P/E ratio of 17.79, a PEG ratio of 1.40 and a beta of 0.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $90.67 and its 200-day simple moving average is $88.71. Amdocs has a 12-month low of $78.61 and a 12-month high of $95.41.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 earnings per share. Equities analysts anticipate that Amdocs will post 6.21 EPS for the current year.

Institutional Investors Weigh In On Amdocs

Several institutional investors and hedge funds have recently modified their holdings of DOX. Vanguard Group Inc. boosted its position in shares of Amdocs by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after buying an additional 426,035 shares during the period. Norges Bank purchased a new position in Amdocs in the fourth quarter valued at about $824,000. O Shaughnessy Asset Management LLC boosted its holdings in Amdocs by 5.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,703 shares of the technology company’s stock valued at $1,167,000 after purchasing an additional 700 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Amdocs by 66.9% in the fourth quarter. Franklin Resources Inc. now owns 254,011 shares of the technology company’s stock valued at $21,626,000 after purchasing an additional 101,781 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Amdocs by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,672,193 shares of the technology company’s stock valued at $143,262,000 after purchasing an additional 38,460 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Company Profile

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.