BidaskClub Lowers Amdocs Limited (DOX) to Sell
Amdocs Limited (NASDAQ:DOX) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.
DOX has been the subject of a number of other reports. Barclays PLC reissued a “hold” rating and set a $68.00 price target on shares of Amdocs Limited in a research note on Friday. Zacks Investment Research lowered Amdocs Limited from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Amdocs Limited in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Amdocs Limited in a research note on Friday, June 16th. Finally, Robert W. Baird raised their price objective on Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.63.
Shares of Amdocs Limited (DOX) traded down 0.56% during trading on Tuesday, reaching $65.59. The company’s stock had a trading volume of 251,557 shares. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 22.79 and a beta of 0.54. The company has a 50 day moving average of $65.23 and a 200-day moving average of $62.44. Amdocs Limited has a 12-month low of $54.91 and a 12-month high of $67.62.
Amdocs Limited (NASDAQ:DOX) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.73% and a net margin of 11.11%. The company had revenue of $967 million during the quarter, compared to analyst estimates of $967.04 million. During the same period in the prior year, the company earned $0.90 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Analysts forecast that Amdocs Limited will post $3.83 EPS for the current year.
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Several large investors have recently modified their holdings of DOX. BlackRock Inc. raised its stake in shares of Amdocs Limited by 1,661.3% in the first quarter. BlackRock Inc. now owns 8,715,991 shares of the technology company’s stock worth $531,590,000 after buying an additional 8,221,139 shares in the last quarter. FMR LLC raised its stake in shares of Amdocs Limited by 12.8% in the first quarter. FMR LLC now owns 12,620,266 shares of the technology company’s stock worth $769,710,000 after buying an additional 1,435,539 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Amdocs Limited during the first quarter worth about $51,051,000. Boston Partners raised its stake in shares of Amdocs Limited by 9.7% in the first quarter. Boston Partners now owns 7,464,464 shares of the technology company’s stock worth $455,257,000 after buying an additional 661,397 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in shares of Amdocs Limited by 9.7% in the first quarter. Janus Capital Management LLC now owns 6,759,428 shares of the technology company’s stock worth $412,250,000 after buying an additional 599,865 shares in the last quarter. 89.97% of the stock is owned by hedge funds and other institutional investors.
About Amdocs Limited
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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