Amdocs (NASDAQ:DOX) Upgraded by Wall Street Zen to "Buy" Rating

Amdocs (NASDAQ:DOX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Amdocs Trading Up 1.4%

NASDAQ:DOX traded up $1.30 during trading hours on Friday, reaching $92.28. 658,574 shares of the stock were exchanged, compared to its average volume of 671,449. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $88.14 and a two-hundred day moving average of $87.44. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.61. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.47 and a beta of 0.52.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.07. Amdocs had a return on equity of 18.89% and a net margin of 10.19%. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm's revenue was down 9.4% compared to the same quarter last year. On average, equities analysts predict that Amdocs will post 6.21 EPS for the current year.

Institutional Trading of Amdocs

Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC raised its stake in shares of Amdocs by 12.9% in the first quarter. Inspire Investing LLC now owns 3,422 shares of the technology company's stock valued at $313,000 after acquiring an additional 392 shares in the last quarter. Strs Ohio acquired a new stake in shares of Amdocs in the first quarter valued at $2,715,000. Geneos Wealth Management Inc. raised its stake in shares of Amdocs by 213.9% in the first quarter. Geneos Wealth Management Inc. now owns 700 shares of the technology company's stock valued at $64,000 after acquiring an additional 477 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Amdocs in the first quarter valued at $982,000. Finally, Fortis Capital Advisors LLC purchased a new position in Amdocs in the first quarter valued at $535,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.