Wolfe Research Initiates Coverage on Amdocs (NASDAQ:DOX)

Research analysts at Wolfe Research assumed coverage on shares of Amdocs (NASDAQ:DOX - Get Free Report) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set an "outperform" rating on the technology company's stock.

Separately, Wall Street Zen raised Amdocs from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $105.33.

Amdocs Stock Performance

Amdocs stock opened at $91.82 on Tuesday. 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 has a 1 year low of $77.17 and a 1 year high of $95.41. The company has a market cap of $10.37 billion, a PE ratio of 19.33, a PEG ratio of 1.53 and a beta of 0.52. The company's 50-day moving average is $91.49 and its two-hundred day moving average is $88.24.

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

Institutional Trading of Amdocs

Large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC bought a new stake in Amdocs during the 1st quarter worth approximately $27,000. AdvisorNet Financial Inc grew its stake in shares of Amdocs by 382.9% during the 1st quarter. AdvisorNet Financial Inc now owns 338 shares of the technology company's stock worth $31,000 after acquiring an additional 268 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Amdocs during the 1st quarter worth approximately $31,000. Quarry LP grew its stake in shares of Amdocs by 42.2% during the 1st quarter. Quarry LP now owns 391 shares of the technology company's stock worth $36,000 after acquiring an additional 116 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of Amdocs during the 4th quarter worth approximately $36,000. 92.02% of the stock is owned by 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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