Amdocs (NASDAQ:DOX) Downgraded by StockNews.com to Buy

Amdocs (NASDAQ:DOX - Get Free Report) was downgraded by investment analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Wednesday.

DOX has been the topic of a number of other research reports. Barclays cut their price objective on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating on the stock in a research note on Thursday, November 14th. Oppenheimer increased their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.20.

Amdocs Stock Performance

Amdocs stock traded down $1.40 during mid-day trading on Wednesday, reaching $87.91. 726,642 shares of the company traded hands, compared to its average volume of 651,588. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.16 and a quick ratio of 1.20. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.48 and a beta of 0.71. The firm's fifty day moving average is $86.06 and its two-hundred day moving average is $86.56.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.19). Amdocs had a net margin of 10.19% and a return on equity of 18.89%. On average, equities research analysts expect that Amdocs will post 6.21 earnings per share for the current fiscal year.

Institutional Trading of Amdocs

A number of hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in Amdocs by 1.9% during the third quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company's stock worth $516,000 after buying an additional 109 shares in the last quarter. Private Trust Co. NA boosted its holdings in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after buying an additional 117 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in Amdocs by 5.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,431 shares of the technology company's stock worth $207,000 after buying an additional 124 shares in the last quarter. Principal Securities Inc. boosted its holdings in Amdocs by 10.4% during the fourth quarter. Principal Securities Inc. now owns 1,341 shares of the technology company's stock worth $114,000 after buying an additional 126 shares in the last quarter. Finally, Morton Community Bank lifted its holdings in Amdocs by 0.4% during the third quarter. Morton Community Bank now owns 36,410 shares of the technology company's stock valued at $3,185,000 after purchasing an additional 130 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other 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.