Amdocs (NASDAQ:DOX) Upgraded at StockNews.com

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

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

Amdocs Stock Down 1.0 %

DOX opened at $88.87 on Friday. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The business has a 50 day moving average price of $87.08 and a two-hundred day moving average price of $83.59. 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 company has a market cap of $10.45 billion, a PE ratio of 19.97, a P/E/G ratio of 1.42 and a beta of 0.74.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. The business 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 posted $1.41 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Amdocs will post 5.67 EPS for the current year.

Hedge Funds Weigh In On Amdocs

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP purchased a new position in Amdocs in the 1st quarter valued at approximately $1,943,000. State Board of Administration of Florida Retirement System raised its stake in shares of Amdocs by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock worth $16,030,000 after buying an additional 12,178 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of Amdocs by 17.0% in the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after buying an additional 89,726 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock worth $12,230,000 after buying an additional 124,122 shares in the last quarter. Finally, Sargent Investment Group LLC acquired a new stake in Amdocs in the 2nd quarter valued at about $289,000. 92.02% of the stock is owned by institutional investors and hedge funds.

About Amdocs

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.