Amdocs (NASDAQ:DOX) Stock Dropped to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Amdocs from “buy” to “hold.” Oppenheimer also lowered its rating to “market perform,” while analysts’ overall consensus is “hold,” with an average price target of $78.33.
• Stifel Nicolaus cut its price target from $71 to $46 but maintained a “buy” rating. Amdocs shares opened at $42.09, near their 52-week low of $40.48.
• Amdocs reported quarterly EPS of $1.98 and revenue of $1.19 billion, both in line with analyst expectations; revenue increased 3.8% year over year.

Amdocs (NASDAQ:DOX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

DOX has been the subject of several other reports. Oppenheimer cut Amdocs from an "outperform" rating to a "market perform" rating in a research note on Wednesday. Stifel Nicolaus dropped their target price on Amdocs from $71.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Weiss Ratings raised Amdocs from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $78.33.

Amdocs Stock Performance

Shares of DOX stock opened at $42.09 on Friday. The stock's 50-day moving average price is $59.49 and its 200 day moving average price is $61.98. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.54 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.01 and a beta of 0.42. Amdocs has a 52-week low of $40.48 and a 52-week high of $85.63.

Amdocs (NASDAQ:DOX - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $1.98 EPS for the quarter, meeting analysts' consensus estimates of $1.98. Amdocs had a net margin of 9.75% and a return on equity of 20.28%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the company earned $1.83 EPS. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Amdocs will post 7.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its holdings in Amdocs by 16.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,292 shares of the technology company's stock worth $74,000 after acquiring an additional 182 shares during the period. Alpine Bank Wealth Management boosted its holdings in Amdocs by 58.2% in the 3rd quarter. Alpine Bank Wealth Management now owns 500 shares of the technology company's stock valued at $29,000 after purchasing an additional 184 shares during the period. Sequoia Financial Advisors LLC raised its stake in Amdocs by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,443 shares of the technology company's stock worth $420,000 after acquiring an additional 218 shares in the last quarter. Covestor Ltd lifted its holdings in Amdocs by 11.8% during the 3rd quarter. Covestor Ltd now owns 2,461 shares of the technology company's stock worth $141,000 after buying an additional 259 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in Amdocs by 8.5% during the 2nd quarter. Fulton Bank N.A. now owns 4,667 shares of the technology company's stock worth $236,000 after acquiring an additional 367 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Company Profile

Amdocs Ltd. NASDAQ: DOX is a global provider of software and technology services for communications, media and entertainment companies. Its solutions help service providers manage customer relationships, billing, subscriptions, product offerings and digital experiences across consumer and enterprise markets.

The company's portfolio includes business support systems and operational support systems, cloud-based software, artificial intelligence and automation tools, network and service management platforms, and solutions for media distribution and monetization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.