Amdocs (NASDAQ:DOX) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Amdocs (NASDAQ:DOX) from a buy rating to a hold rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Amdocs currently has an average rating of “Moderate Buy” and an average target price of $108.00.

Amdocs Price Performance

Shares of NASDAQ DOX traded up $0.91 during mid-day trading on Friday, reaching $84.57. The company’s stock had a trading volume of 621,966 shares, compared to its average volume of 752,648. The stock has a 50-day moving average of $83.50 and a two-hundred day moving average of $87.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $9.55 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.40 and a beta of 0.51. Amdocs has a 1-year low of $78.61 and a 1-year high of $95.41.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.01. Amdocs had a return on equity of 19.66% and a net margin of 11.94%.The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business earned $1.62 EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Amdocs will post 6.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Amdocs

Institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC grew its position in shares of Amdocs by 0.6% in the third quarter. Pzena Investment Management LLC now owns 6,593,249 shares of the technology company’s stock valued at $540,976,000 after purchasing an additional 42,184 shares during the last quarter. LSV Asset Management boosted its holdings in Amdocs by 7.6% in the third quarter. LSV Asset Management now owns 3,648,703 shares of the technology company’s stock valued at $299,376,000 after acquiring an additional 257,193 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Amdocs by 3.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,111,312 shares of the technology company’s stock valued at $252,856,000 after buying an additional 91,428 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Amdocs by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,066,444 shares of the technology company’s stock valued at $251,602,000 after purchasing an additional 9,207 shares in the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Amdocs by 38.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,329,767 shares of the technology company’s stock worth $213,174,000 after acquiring an additional 648,693 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Company Profile

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.