Amdocs (NASDAQ:DOX) Downgraded by BidaskClub to “Hold”

BidaskClub cut shares of Amdocs (NASDAQ:DOX) from a buy rating to a hold rating in a research note released on Saturday morning, BidAskClub reports.

DOX has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of Amdocs from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Wednesday, November 13th. Stifel Nicolaus raised their price target on shares of Amdocs from $70.00 to $75.00 and gave the company a buy rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Amdocs presently has an average rating of Hold and an average price target of $71.33.

NASDAQ:DOX opened at $72.51 on Friday. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.00 and a beta of 0.40. The firm has a fifty day simple moving average of $71.36 and a two-hundred day simple moving average of $66.63. Amdocs has a 12 month low of $52.60 and a 12 month high of $73.60.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $1.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.08. Amdocs had a net margin of 11.73% and a return on equity of 15.98%. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, research analysts forecast that Amdocs will post 4.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.14 annualized dividend and a yield of 1.57%. Amdocs’s payout ratio is presently 28.01%.

Institutional investors have recently made changes to their positions in the business. Accurate Investment Solutions Inc. bought a new stake in Amdocs during the fourth quarter valued at approximately $64,000. Tower Research Capital LLC TRC lifted its position in Amdocs by 20.6% during the third quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the technology company’s stock valued at $66,000 after purchasing an additional 171 shares during the last quarter. KCS Wealth Advisory bought a new stake in Amdocs during the third quarter valued at approximately $99,000. Robecosam AG lifted its position in Amdocs by 9.5% during the third quarter. Robecosam AG now owns 2,300 shares of the technology company’s stock valued at $151,000 after purchasing an additional 200 shares during the last quarter. Finally, Huntington National Bank lifted its position in Amdocs by 7.6% during the third quarter. Huntington National Bank now owns 2,856 shares of the technology company’s stock valued at $189,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.

Amdocs Company Profile

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.

Read More: Portfolio Manager

Receive News & Ratings for Amdocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amdocs and related companies with MarketBeat.com's FREE daily email newsletter.