Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $71.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.52% from the stock’s previous close.
According to Zacks, “Amdocs continues to expand its global client base by signing long-term contracts. Collaborating with a major telecommunication industry player like AT&T on an upcoming technology platform is expected to benefit Amdocs and boost its top line. With strategic acquisitions, the company has further evolved as a unique vendor providing both end-to-end business support solutions and operating support solutions to the carrier marketplace. Solid execution across multiple dimensions of its business and continuous project wins remain positives. Amdocs reported solid fourth-quarter fiscal 2017 results with healthy year-over-year increase in earnings and revenues. The company has offered a bullish guidance for 2018 and expects non-GAAP earnings per share to grow 4% to 8% year over year on revenue growth of 0-4%. However, the company underperformed the industry year to date. Amdocs is highly exposed to foreign currency exchange rate risk.”
DOX has been the topic of several other research reports. Barclays PLC reissued a “hold” rating and set a $68.00 target price on shares of Amdocs Limited in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Amdocs Limited in a research report on Thursday. Robert W. Baird reaffirmed a “hold” rating and issued a $66.00 price objective on shares of Amdocs Limited in a research report on Friday, September 1st. BidaskClub downgraded Amdocs Limited from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 31st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Amdocs Limited in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $70.29.
Amdocs Limited (DOX) opened at $62.00 on Friday. The firm has a market capitalization of $9,196.61, a P/E ratio of 17.87, a PEG ratio of 2.19 and a beta of 0.53. Amdocs Limited has a 12-month low of $56.10 and a 12-month high of $67.98.
Amdocs Limited (NASDAQ:DOX) last released its earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.05. The firm had revenue of $979.70 million for the quarter, compared to the consensus estimate of $977.72 million. Amdocs Limited had a return on equity of 14.81% and a net margin of 11.30%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. equities analysts anticipate that Amdocs Limited will post 3.76 earnings per share for the current year.
Amdocs Limited declared that its Board of Directors has approved a stock buyback plan on Wednesday, November 8th that allows the company to repurchase $800.00 million in outstanding shares. This repurchase authorization allows the technology company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in shares of Amdocs Limited by 13.6% during the 2nd quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock worth $924,507,000 after buying an additional 1,722,080 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Amdocs Limited by 105,711.6% during the 2nd quarter. Janus Henderson Group PLC now owns 7,431,146 shares of the technology company’s stock worth $479,012,000 after buying an additional 7,424,123 shares in the last quarter. Boston Partners grew its position in shares of Amdocs Limited by 0.4% during the 3rd quarter. Boston Partners now owns 7,139,400 shares of the technology company’s stock worth $459,206,000 after buying an additional 27,688 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Amdocs Limited by 5.3% during the 3rd quarter. Wells Fargo & Company MN now owns 4,932,692 shares of the technology company’s stock worth $317,271,000 after buying an additional 246,756 shares in the last quarter. Finally, FIL Ltd grew its position in shares of Amdocs Limited by 157.9% during the 2nd quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock worth $266,696,000 after buying an additional 2,532,928 shares in the last quarter. 91.22% of the stock is currently owned by institutional investors and hedge funds.
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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