Wall Street Zen Upgrades Amdocs (NASDAQ:DOX) to "Buy"

Key Points

• Wall Street Zen upgraded Amdocs (NASDAQ:DOX) from a "hold" rating to a "buy" rating, signaling increased confidence in the company's stock.
• Amdocs reported earnings of $1.72 per share for the last quarter, slightly exceeding analysts' expectations, although revenue decreased by 8.4% year-over-year.
• Institutional investors hold a significant majority of Amdocs' shares, owning 92.02% of the company, indicating strong support from larger investment firms.

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

A number of other equities research analysts also recently issued reports on DOX. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Amdocs in a research report on Wednesday. Wolfe Research began coverage on shares of Amdocs in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $108.00.

Amdocs Trading Down 1.3%

DOX opened at $80.77 on Friday. Amdocs has a 1-year low of $78.61 and a 1-year high of $95.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The company has a market cap of $9.12 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. The company has a fifty day moving average price of $84.82 and a two-hundred day moving average price of $87.74.

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

Hedge Funds Weigh In On Amdocs

A number of institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in shares of Amdocs during the 1st quarter valued at $31,000. Farther Finance Advisors LLC grew its holdings in shares of Amdocs by 17.5% during the 1st quarter. Farther Finance Advisors LLC now owns 988 shares of the technology company's stock valued at $90,000 after purchasing an additional 147 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Amdocs by 38.3% during the 1st quarter. Simon Quick Advisors LLC now owns 4,249 shares of the technology company's stock valued at $389,000 after purchasing an additional 1,177 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Amdocs by 3.1% during the 1st quarter. Fifth Third Bancorp now owns 7,537 shares of the technology company's stock valued at $690,000 after purchasing an additional 225 shares during the last quarter. Finally, Ritholtz Wealth Management grew its holdings in shares of Amdocs by 18.9% during the 1st quarter. Ritholtz Wealth Management now owns 3,195 shares of the technology company's stock valued at $292,000 after purchasing an additional 507 shares during the last quarter. 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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