Amdocs (NASDAQ:DOX) Upgraded to Buy at Wall Street Zen

Key Points

• Amdocs (NASDAQ:DOX) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, reflecting positive sentiment from analysts.
• The stock has a consensus target price of $105.33 and reported earnings of $1.72 per share for the last quarter, slightly exceeding expectations.
• Institutional investors control over 92% of Amdocs' stock, indicating strong institutional interest in the company.

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

Separately, Wolfe Research began coverage on Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $105.33.

Amdocs Stock Performance

NASDAQ DOX opened at $89.41 on Friday. The business's 50-day moving average price is $90.17 and its 200 day moving average price is $88.74. Amdocs has a twelve month low of $78.61 and a twelve month high of $95.41. The company has a market capitalization of $10.09 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.48 and a beta of 0.51. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.72% and a net margin of 11.94%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. On average, research analysts predict that Amdocs will post 6.21 earnings per share for the current year.

Institutional Trading of Amdocs

Several hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. boosted its position in Amdocs by 86.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,681,074 shares of the technology company's stock worth $143,127,000 after acquiring an additional 781,061 shares during the period. American Century Companies Inc. boosted its position in Amdocs by 23.5% during the 1st quarter. American Century Companies Inc. now owns 2,242,829 shares of the technology company's stock worth $205,219,000 after acquiring an additional 426,911 shares during the period. Nuveen LLC acquired a new position in Amdocs during the 1st quarter worth $36,921,000. The Manufacturers Life Insurance Company raised its stake in shares of Amdocs by 2,489.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 376,383 shares of the technology company's stock worth $32,045,000 after buying an additional 361,845 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company's stock valued at $291,016,000 after buying an additional 317,412 shares during the period. Institutional investors own 92.02% of the company's stock.

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.

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