Wall Street Zen Downgrades Amdocs (NASDAQ:DOX) to Hold

Key Points

• Wall Street Zen has downgraded Amdocs (NASDAQ:DOX) from a "buy" rating to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• The company's market capitalization is approximately $9.54 billion, with a PE ratio of 17.79 and a recent stock price of $84.49.
• Despite a quarter-over-quarter revenue decrease of 9.4%, Amdocs reported earnings of $1.78 EPS, exceeding analyst expectations.

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 report issued on Saturday.

Separately, Wolfe Research started coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $105.33.

Amdocs Stock Down 1.0%

NASDAQ DOX opened at $84.49 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $9.54 billion, a PE ratio of 17.79, a PEG ratio of 1.41 and a beta of 0.52. Amdocs has a 1 year low of $78.61 and a 1 year high of $95.41. The business's 50-day moving average is $90.67 and its 200 day moving average is $88.65.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.12 billion. Amdocs had a return on equity of 19.52% and a net margin of 11.39%. Amdocs's quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $1.56 earnings per share. Sell-side analysts forecast that Amdocs will post 6.21 earnings per share for the current year.

Hedge Funds Weigh In On Amdocs

Several large investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC bought a new stake in shares of Amdocs during the first quarter valued at approximately $27,000. AdvisorNet Financial Inc increased its position in shares of Amdocs by 382.9% during the first quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock valued at $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Amdocs during the first quarter valued at approximately $31,000. Quarry LP increased its position in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company's stock valued at $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Amdocs during the first quarter valued at approximately $39,000. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

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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