StockNews.com Upgrades Amdocs (NASDAQ:DOX) to “Strong-Buy”

Amdocs (NASDAQ:DOX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

DOX has been the topic of several other research reports. Citigroup decreased their price target on Amdocs from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Robert W. Baird decreased their price target on Amdocs from $97.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $102.50.

Amdocs Stock Performance

DOX stock traded down $0.93 during trading on Friday, hitting $83.02. The company had a trading volume of 776,806 shares, compared to its average volume of 720,533. The firm has a market cap of $9.76 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The firm has a 50-day moving average price of $80.20 and a 200-day moving average price of $85.40. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.85% and a net margin of 10.62%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts expect that Amdocs will post 5.72 earnings per share for the current year.

Institutional Trading of Amdocs

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new stake in shares of Amdocs during the fourth quarter valued at about $25,000. Oakworth Capital Inc. acquired a new stake in Amdocs in the fourth quarter valued at $26,000. Norwood Financial Corp bought a new position in Amdocs during the 1st quarter valued at $33,000. Central Pacific Bank Trust Division acquired a new position in Amdocs during the 1st quarter worth $53,000. Finally, Riverview Trust Co bought a new stake in shares of Amdocs in the 1st quarter worth about $55,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.