StockNews.com Upgrades Amdocs (NASDAQ:DOX) to "Strong-Buy"

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

Separately, Stifel Nicolaus began coverage on Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $102.00.

Amdocs Stock Performance

DOX stock traded down $0.87 during midday trading on Friday, hitting $88.87. The stock had a trading volume of 242,979 shares, compared to its average volume of 674,938. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 1.42 and a beta of 0.74. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The stock has a 50-day simple moving average of $87.08 and a 200 day simple moving average of $83.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX - Get Free Report) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.60 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.25 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. Amdocs's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. As a group, equities research analysts anticipate that Amdocs will post 5.67 earnings per share for the current year.

Institutional Trading of Amdocs

A number of hedge funds and other institutional investors have recently made changes to their positions in DOX. Central Pacific Bank Trust Division acquired a new stake in shares of Amdocs in the first quarter valued at $53,000. GAMMA Investing LLC increased its stake in shares of Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock valued at $70,000 after buying an additional 428 shares in the last quarter. American National Bank acquired a new stake in shares of Amdocs in the second quarter valued at $76,000. Blue Trust Inc. increased its position in Amdocs by 18.0% in the second quarter. Blue Trust Inc. now owns 1,138 shares of the technology company's stock worth $90,000 after purchasing an additional 174 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Amdocs by 24.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,215 shares of the technology company's stock worth $175,000 after purchasing an additional 440 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.

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