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

Amdocs (NASDAQ:DOX) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Friday.

Other equities analysts have also issued reports about the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Amdocs in a research note on Saturday, September 27th. Wolfe Research initiated coverage on shares of Amdocs in a report on Tuesday, July 8th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and a consensus price target of $108.00.

Amdocs Stock Up 0.3%

Shares of DOX opened at $82.32 on Friday. Amdocs has a fifty-two week low of $78.61 and a fifty-two week high of $95.41. The company’s fifty day moving average is $85.21 and its two-hundred day moving average is $87.98. The firm has a market cap of $9.29 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23.

Amdocs (NASDAQ:DOX) last issued its earnings results on Wednesday, August 6th. The technology company reported $1.72 earnings per share for the quarter, topping 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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $1.62 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Analysts forecast that Amdocs will post 6.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DOX. Cornerstone Planning Group LLC acquired a new stake in Amdocs during the 1st quarter valued at $27,000. NBC Securities Inc. purchased a new position in Amdocs in the 1st quarter valued at about $31,000. Quarry LP boosted its position in Amdocs by 42.2% in the 1st quarter. Quarry LP now owns 391 shares of the technology company’s stock valued at $36,000 after buying an additional 116 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs during the first quarter valued at about $39,000. Finally, Rossby Financial LCC purchased a new stake in shares of Amdocs during the second quarter worth about $41,000. 92.02% of the stock is owned by institutional investors and hedge funds.

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.