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

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

Separately, Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $102.00.

Amdocs Trading Down 1.0 %

DOX stock traded down $0.87 during midday trading on Friday, reaching $88.87. The stock had a trading volume of 242,979 shares, compared to its average volume of 674,938. The business has a fifty day simple moving average of $87.08 and a two-hundred day simple moving average of $83.62. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.42 and a beta of 0.74. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs (NASDAQ:DOX) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 EPS. As a group, research analysts expect that Amdocs will post 5.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Amdocs

Several institutional investors have recently modified their holdings of the business. First Trust Direct Indexing L.P. lifted its holdings in shares of Amdocs by 7.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,063 shares of the technology company’s stock valued at $268,000 after purchasing an additional 200 shares in the last quarter. GW Henssler & Associates Ltd. bought a new stake in Amdocs in the 3rd quarter valued at approximately $6,665,000. Strategic Wealth Investment Group LLC lifted its stake in Amdocs by 13.3% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 12,984 shares of the technology company’s stock valued at $1,135,000 after acquiring an additional 1,520 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Amdocs by 4.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 107,432 shares of the technology company’s stock valued at $9,192,000 after acquiring an additional 5,000 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in Amdocs by 2.1% in the 3rd quarter. GHP Investment Advisors Inc. now owns 103,065 shares of the technology company’s stock valued at $9,016,000 after acquiring an additional 2,132 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

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.