Amdocs (NASDAQ:DOX) Posts Earnings Results, Beats Estimates By $0.16 EPS

Amdocs (NASDAQ:DOXGet Free Report) released its quarterly earnings results on Tuesday. The technology company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.16, Yahoo Finance reports. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Amdocs had a return on equity of 17.77% and a net margin of 11.06%. Amdocs’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 EPS.

Amdocs Trading Up 0.5 %

Shares of Amdocs stock opened at $92.71 on Wednesday. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.50 and a beta of 0.69. Amdocs has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50 day moving average of $88.65 and a 200 day moving average of $86.64.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in Amdocs by 8.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,861,430 shares of the technology company’s stock worth $178,753,000 after purchasing an additional 139,026 shares in the last quarter. Morgan Stanley raised its stake in shares of Amdocs by 9.0% in the third quarter. Morgan Stanley now owns 1,653,299 shares of the technology company’s stock valued at $139,687,000 after acquiring an additional 136,815 shares in the last quarter. State Street Corp raised its stake in shares of Amdocs by 1.7% in the first quarter. State Street Corp now owns 1,648,032 shares of the technology company’s stock valued at $136,136,000 after acquiring an additional 28,269 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Amdocs by 20.4% in the second quarter. Alliancebernstein L.P. now owns 1,356,675 shares of the technology company’s stock valued at $134,107,000 after acquiring an additional 229,946 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Amdocs in the fourth quarter valued at $112,930,000. 90.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOX has been the subject of a number of analyst reports. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Monday. Jefferies Financial Group initiated coverage on Amdocs in a report on Friday, December 1st. They issued a “buy” rating and a $105.00 price target for the company. Finally, Citigroup upped their price target on Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $108.60.

Get Our Latest Stock Analysis on Amdocs

About Amdocs

(Get Free Report)

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.

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Earnings History for Amdocs (NASDAQ:DOX)

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