BidaskClub downgraded shares of Amdocs Limited (NASDAQ:DOX) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Amdocs Limited from a hold rating to a buy rating and set a $75.00 price target on the stock in a research note on Friday, August 4th. Stifel Nicolaus restated a buy rating and set a $72.00 target price (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated a buy rating and set a $70.00 target price on shares of Amdocs Limited in a research note on Tuesday, September 5th. Jefferies Group LLC restated a hold rating and set a $59.00 target price on shares of Amdocs Limited in a research note on Friday, June 16th. Finally, Robert W. Baird restated a hold rating and set a $66.00 target price on shares of Amdocs Limited in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Amdocs Limited presently has a consensus rating of Hold and an average target price of $67.63.
Shares of Amdocs Limited (DOX) traded down 1.45% during trading on Friday, hitting $62.49. The stock had a trading volume of 5,138,550 shares. The stock has a 50 day moving average of $64.29 and a 200 day moving average of $63.44. Amdocs Limited has a 52-week low of $54.91 and a 52-week high of $67.98. The firm has a market cap of $9.08 billion, a PE ratio of 21.77 and a beta of 0.53.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The company had revenue of $967.00 million during the quarter, compared to the consensus estimate of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that Amdocs Limited will post $3.81 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be issued a $0.22 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.88 dividend on an annualized basis and a yield of 1.41%. Amdocs Limited’s dividend payout ratio is currently 30.66%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BB&T Investment Services Inc. bought a new stake in Amdocs Limited in the 2nd quarter valued at $118,000. Robecosam AG bought a new stake in Amdocs Limited in the 1st quarter valued at $114,000. Acrospire Investment Management LLC bought a new stake in Amdocs Limited in the 2nd quarter valued at $155,000. Atria Investments LLC bought a new stake in Amdocs Limited in the 2nd quarter valued at $218,000. Finally, Sawtooth Solutions LLC bought a new stake in Amdocs Limited in the 2nd quarter valued at $220,000. Institutional investors own 89.31% of the company’s stock.
About Amdocs Limited
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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