Amdocs Limited (NASDAQ:DOX) Raised to “Buy” at Zacks Investment Research
Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $75.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.17% from the stock’s previous close.
According to Zacks, “Amdocs reported healthy third-quarter fiscal 2017 results, surpassing the Zacks Consensus Estimate by 7.9%. The company 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. Solid execution across multiple dimensions of its business and continuous project wins remain positives. The introduction of a new digital customer management and commerce platform called Optima, which can monetize any product or service and supports the full business lifecycle, is likely to further improve its revenues. However, the company underperformed the industry in the last three months. Risks related to adverse foreign exchange movements and slow-paced growth in European and emerging markets undermine its growth potential to some extent.”
Several other research analysts have also commented on DOX. Stifel Nicolaus restated a “buy” rating and set a $72.00 price target (up from $68.00) on shares of Amdocs Limited in a research report on Thursday. BidaskClub upgraded Amdocs Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. J P Morgan Chase & Co restated a “neutral” rating and set a $68.00 price target on shares of Amdocs Limited in a research report on Tuesday, May 9th. Robert W. Baird raised their price target on Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC restated a “hold” rating and set a $59.00 price target on shares of Amdocs Limited in a research report on Friday, June 16th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $67.63.
Shares of Amdocs Limited (DOX) opened at 66.27 on Friday. Amdocs Limited has a one year low of $54.91 and a one year high of $67.62. The stock has a market capitalization of $9.67 billion, a PE ratio of 23.03 and a beta of 0.54. The firm has a 50 day moving average price of $65.23 and a 200 day moving average price of $62.44.
Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.96 by $0.06. Amdocs Limited had a return on equity of 12.86% and a net margin of 11.65%. The business had revenue of $967 million during the quarter, compared to analyst estimates of $967.04 million. During the same period last year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts predict that Amdocs Limited will post $3.83 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. raised its position in Amdocs Limited by 4.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,812 shares of the technology company’s stock worth $232,000 after buying an additional 162 shares during the period. Russell Investments Group Ltd. raised its position in Amdocs Limited by 3.3% in the first quarter. Russell Investments Group Ltd. now owns 321,902 shares of the technology company’s stock worth $19,635,000 after buying an additional 10,381 shares during the period. Janney Montgomery Scott LLC raised its position in Amdocs Limited by 4.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,138 shares of the technology company’s stock worth $1,411,000 after buying an additional 930 shares during the period. Park Avenue Securities LLC raised its position in Amdocs Limited by 9.4% in the first quarter. Park Avenue Securities LLC now owns 5,615 shares of the technology company’s stock worth $342,000 after buying an additional 484 shares during the period. Finally, ProShare Advisors LLC bought a new position in Amdocs Limited during the first quarter worth about $224,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.
Amdocs Limited Company Profile
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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