Amdocs (NASDAQ:DOX) Upgraded to “B-” at TheStreet

Amdocs (NASDAQ:DOX) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research note issued to investors on Tuesday, June 4th, TheStreetRatingsTable reports.

Several other brokerages have also recently weighed in on DOX. BidaskClub cut shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. ValuEngine raised shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Zacks Investment Research raised shares of Amdocs from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Amdocs from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, May 15th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $71.40.

DOX stock traded up $0.42 during mid-day trading on Tuesday, hitting $62.09. The company had a trading volume of 1,403,900 shares, compared to its average volume of 1,043,492. The company has a market capitalization of $8.64 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.39. Amdocs has a 12-month low of $52.60 and a 12-month high of $69.16. The firm’s 50-day moving average price is $60.32.

Amdocs (NASDAQ:DOX) last posted its earnings results on Tuesday, May 14th. The technology company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Amdocs had a net margin of 8.96% and a return on equity of 15.18%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. Sell-side analysts anticipate that Amdocs will post 4.01 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in DOX. Assenagon Asset Management S.A. lifted its holdings in Amdocs by 1.6% during the first quarter. Assenagon Asset Management S.A. now owns 13,100 shares of the technology company’s stock valued at $709,000 after purchasing an additional 200 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Amdocs by 0.3% in the fourth quarter. Macquarie Group Ltd. now owns 68,943 shares of the technology company’s stock worth $4,039,000 after buying an additional 226 shares in the last quarter. O Shares Investment Advisers LLC lifted its stake in shares of Amdocs by 3.0% in the first quarter. O Shares Investment Advisers LLC now owns 9,590 shares of the technology company’s stock worth $519,000 after buying an additional 280 shares in the last quarter. Smith Moore & CO. lifted its stake in shares of Amdocs by 4.5% in the fourth quarter. Smith Moore & CO. now owns 7,185 shares of the technology company’s stock worth $421,000 after buying an additional 308 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Amdocs by 47.8% in the first quarter. Meeder Asset Management Inc. now owns 1,057 shares of the technology company’s stock worth $57,000 after buying an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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