Amdocs Limited (NASDAQ:DOX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “With strategic acquisitions, Amdocs has evolved as a unique vendor providing both end-to-end business and operating support solutions to the carrier marketplace. Solid execution across multiple dimensions of its business and continuous project wins remain positives. Amdocs reported solid fourth-quarter fiscal 2017 results with healthy year-over-year increase in earnings and revenues. The company has also offered a bullish guidance for 2018 based on solid backlog and strong momentum in the North American Pay TV market. However, the company underperformed the industry year to date. Amdocs is highly exposed to foreign currency exchange rate risk. The company saw a sharp decline in revenues from Europe and international markets. Economic and political uncertainty in Europe may further jeopardize the company’s financials, going forward. High concentration risk remain another significant challenge for the company.”

A number of other equities analysts also recently weighed in on DOX. BidaskClub raised Amdocs Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and set a $72.00 price objective (up previously from $68.00) on shares of Amdocs Limited in a research note on Thursday, August 3rd. Barclays PLC reiterated a “hold” rating and set a $68.00 price objective on shares of Amdocs Limited in a research note on Friday, August 4th. Robert W. Baird reiterated a “hold” rating and set a $66.00 price objective on shares of Amdocs Limited in a research note on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $70.00 price objective on shares of Amdocs Limited in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Amdocs Limited presently has a consensus rating of “Hold” and a consensus target price of $70.29.

Amdocs Limited (NASDAQ:DOX) opened at $63.79 on Monday. Amdocs Limited has a 12-month low of $56.10 and a 12-month high of $67.98. The firm has a market capitalization of $9,090.50, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.19 and a beta of 0.53.

Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. Amdocs Limited had a return on equity of 14.77% and a net margin of 11.30%. The firm had revenue of $979.70 million during the quarter, compared to the consensus estimate of $977.72 million. During the same quarter in the prior year, the firm posted $0.89 EPS. The business’s revenue was up 4.2% on a year-over-year basis. equities research analysts predict that Amdocs Limited will post 3.72 earnings per share for the current year.

Amdocs Limited announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 8th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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Institutional investors and hedge funds have recently bought and sold shares of the stock. BB&T Investment Services Inc. bought a new stake in Amdocs Limited in the 2nd quarter valued at $118,000. Acrospire Investment Management LLC bought a new stake in Amdocs Limited in the 2nd quarter valued at $155,000. Robecosam AG raised its stake in Amdocs Limited by 37.8% in the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after acquiring an additional 700 shares during the period. Atria Investments LLC bought a new stake in Amdocs Limited in the 2nd quarter valued at $218,000. Finally, HighTower Advisors LLC bought a new stake in Amdocs Limited in the 1st quarter valued at $220,000. Institutional investors and hedge funds own 90.88% 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.

Analyst Recommendations for Amdocs Limited (NASDAQ:DOX)

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