Amdocs (NASDAQ:DOX) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• Amdocs has received a "Hold (C+)" rating from Weiss Ratings, reaffirming its current position in the market.
• The company's stock is trading at $82.36, below its 50-day moving average of $85.04, reflecting a downward trend in recent trading.
• Last quarter, Amdocs reported earnings of $1.72 per share, slightly beating analyst expectations, but revenue decreased by 8.4% compared to the same quarter last year.

Amdocs (NASDAQ:DOX - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

DOX has been the topic of a number of other research reports. Wall Street Zen cut Amdocs from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Wolfe Research assumed coverage on Amdocs in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.00.

Amdocs Stock Performance

DOX stock traded down $0.06 during midday trading on Wednesday, reaching $82.36. The company had a trading volume of 933,045 shares, compared to its average volume of 744,786. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $85.04 and a 200 day moving average price of $87.90. Amdocs has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The firm has a market capitalization of $9.30 billion, a PE ratio of 16.71, a P/E/G ratio of 1.37 and a beta of 0.51.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.13 billion. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The business's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. Analysts anticipate that Amdocs will post 6.21 earnings per share for the current year.

Institutional Investors Weigh In On Amdocs

Hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC grew its position in Amdocs by 2.1% during the 2nd quarter. Pzena Investment Management LLC now owns 6,551,065 shares of the technology company's stock worth $597,719,000 after purchasing an additional 132,463 shares in the last quarter. LSV Asset Management raised its holdings in Amdocs by 6.6% during the second quarter. LSV Asset Management now owns 3,391,510 shares of the technology company's stock valued at $309,441,000 after buying an additional 211,009 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in Amdocs by 38.6% during the first quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company's stock valued at $213,174,000 after buying an additional 648,693 shares in the last quarter. Brandes Investment Partners LP raised its holdings in Amdocs by 1.2% during the second quarter. Brandes Investment Partners LP now owns 2,328,804 shares of the technology company's stock valued at $212,481,000 after buying an additional 27,581 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Amdocs by 23.5% during the first quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock valued at $205,219,000 after buying an additional 426,911 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

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.

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