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

Amdocs (NASDAQ:DOX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Amdocs in a research report on Saturday, September 27th. Wolfe Research assumed coverage on shares of Amdocs in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Amdocs Stock Up 0.3%

DOX opened at $82.32 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.37 and a beta of 0.51. Amdocs has a one year low of $78.61 and a one year high of $95.41. The business’s fifty day moving average is $85.21 and its two-hundred day moving average is $87.98.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The business’s revenue was down 8.4% on a year-over-year basis. Analysts anticipate that Amdocs will post 6.21 EPS for the current fiscal year.

Institutional Trading of Amdocs

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pzena Investment Management LLC lifted its stake in shares of Amdocs by 2.1% during the 2nd quarter. Pzena Investment Management LLC now owns 6,551,065 shares of the technology company’s stock worth $597,719,000 after purchasing an additional 132,463 shares during the period. LSV Asset Management increased its stake in Amdocs by 6.6% in the second quarter. LSV Asset Management now owns 3,391,510 shares of the technology company’s stock valued at $309,441,000 after purchasing an additional 211,009 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Amdocs by 38.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company’s stock valued at $213,174,000 after purchasing an additional 648,693 shares during the last quarter. Brandes Investment Partners LP lifted its position in Amdocs by 1.2% during the second quarter. Brandes Investment Partners LP now owns 2,328,804 shares of the technology company’s stock worth $212,481,000 after buying an additional 27,581 shares during the period. Finally, American Century Companies Inc. boosted its stake in Amdocs by 23.5% in the 1st quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company’s stock worth $205,219,000 after buying an additional 426,911 shares during the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

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.