Amdocs (NASDAQ:DOX) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $60.20 price target on the technology company’s stock, down from their prior price target of $71.37. Jefferies Group’s target price points to a potential downside of 13.56% from the company’s current price. Jefferies Group also issued estimates for Amdocs’ Q1 2020 earnings at $1.05 EPS.
Several other research firms have also recently commented on DOX. Stifel Nicolaus raised their target price on Amdocs from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Oppenheimer reaffirmed a “buy” rating and set a $77.00 target price on shares of Amdocs in a research note on Wednesday, January 31st. ValuEngine raised Amdocs from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub cut Amdocs from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Finally, Zacks Investment Research raised Amdocs from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $69.31.
Shares of Amdocs stock opened at $69.64 on Monday. The firm has a market capitalization of $9,788.62, a PE ratio of 22.46, a PEG ratio of 2.33 and a beta of 0.55. Amdocs has a one year low of $60.30 and a one year high of $71.72.
Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.17. The company had revenue of $977.70 million during the quarter, compared to analysts’ expectations of $979.13 million. Amdocs had a return on equity of 15.13% and a net margin of 11.72%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. equities research analysts anticipate that Amdocs will post 3.75 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Delpha Capital Management LLC acquired a new stake in Amdocs in the fourth quarter valued at approximately $109,000. Focused Wealth Management Inc acquired a new stake in Amdocs in the fourth quarter valued at approximately $157,000. American International Group Inc. acquired a new stake in Amdocs in the fourth quarter valued at approximately $199,000. CENTRAL TRUST Co grew its stake in Amdocs by 45.0% in the fourth quarter. CENTRAL TRUST Co now owns 3,388 shares of the technology company’s stock valued at $222,000 after acquiring an additional 1,052 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in Amdocs in the fourth quarter valued at approximately $246,000. 93.46% of the stock is owned by hedge funds and other institutional investors.
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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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