Amdocs (NASDAQ:DOX) Shares Gap Down Following Analyst Downgrade

Amdocs Limited (NASDAQ:DOX) gapped down prior to trading on Thursday after Robert W. Baird lowered their price target on the stock from $97.00 to $90.00. The stock had previously closed at $85.91, but opened at $82.01. Robert W. Baird currently has a neutral rating on the stock. Amdocs shares last traded at $79.87, with a volume of 76,705 shares.

Other equities analysts have also issued reports about the stock. Citigroup lifted their price target on shares of Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. StockNews.com downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. Finally, Barclays lifted their price objective on shares of Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Amdocs has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financiere des Professionnels Fonds d investissement inc. lifted its position in Amdocs by 1.3% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock valued at $860,000 after purchasing an additional 130 shares during the period. New York State Teachers Retirement System raised its position in shares of Amdocs by 1.3% in the first quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock worth $969,000 after acquiring an additional 141 shares during the period. First Eagle Investment Management LLC raised its position in shares of Amdocs by 6.3% in the third quarter. First Eagle Investment Management LLC now owns 2,448 shares of the technology company’s stock worth $207,000 after acquiring an additional 145 shares during the period. CI Investments Inc. raised its position in shares of Amdocs by 0.7% in the third quarter. CI Investments Inc. now owns 21,000 shares of the technology company’s stock worth $1,774,000 after acquiring an additional 152 shares during the period. Finally, Balentine LLC raised its position in shares of Amdocs by 5.3% in the third quarter. Balentine LLC now owns 3,050 shares of the technology company’s stock worth $258,000 after acquiring an additional 153 shares during the period. 92.02% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Stock Performance

The firm has a market cap of $9.27 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.36 and a beta of 0.70. The business’s 50-day simple moving average is $88.59 and its two-hundred day simple moving average is $87.52. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21.

Amdocs (NASDAQ:DOX) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.40 by $0.16. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Amdocs had a return on equity of 17.79% and a net margin of 11.30%. During the same period in the previous year, the business earned $1.33 EPS. Amdocs’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.