BidaskClub Upgrades Amdocs (NASDAQ:DOX) to Buy

Amdocs (NASDAQ:DOX) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday, BidAskClub reports.

Several other brokerages have also issued reports on DOX. Stifel Nicolaus upped their target price on shares of Amdocs from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered their price target on Amdocs from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $71.33.

DOX stock opened at $69.80 on Thursday. The company’s 50 day moving average is $67.35 and its 200 day moving average is $64.49. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 1.92 and a beta of 0.40. Amdocs has a 1-year low of $52.60 and a 1-year high of $70.00.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported $1.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.08. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Amdocs had a net margin of 11.73% and a return on equity of 15.98%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. Equities analysts anticipate that Amdocs will post 4.25 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. increased its holdings in shares of Amdocs by 1,928.9% in the second quarter. Invesco Ltd. now owns 3,500,567 shares of the technology company’s stock worth $217,351,000 after buying an additional 3,328,028 shares during the period. Nuveen Asset Management LLC purchased a new position in Amdocs in the 2nd quarter worth approximately $42,362,000. LSV Asset Management increased its stake in Amdocs by 21.9% in the 2nd quarter. LSV Asset Management now owns 2,915,900 shares of the technology company’s stock worth $181,048,000 after purchasing an additional 523,776 shares during the period. Bank of America Corp DE increased its stake in Amdocs by 63.1% in the 2nd quarter. Bank of America Corp DE now owns 1,331,214 shares of the technology company’s stock worth $82,655,000 after purchasing an additional 514,943 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Amdocs by 7.8% in the second quarter. Wells Fargo & Company MN now owns 6,413,829 shares of the technology company’s stock valued at $398,234,000 after purchasing an additional 462,146 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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