Amdocs (NASDAQ:DOX) Lifted to “Buy” at BidaskClub

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

Several other research firms also recently weighed in on DOX. ValuEngine raised shares of Amdocs from a sell rating to a hold rating in a research report on Wednesday, May 15th. TheStreet raised shares of Amdocs from a c+ rating to a b- rating in a research report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Amdocs from $67.00 to $75.00 and gave the stock a neutral rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research downgraded shares of Amdocs from a buy rating to a hold rating and set a $67.00 target price for the company. in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $71.00.

Shares of DOX stock opened at $63.65 on Friday. The business has a fifty day moving average price of $63.13. The firm has a market cap of $8.97 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 1.87 and a beta of 0.41. Amdocs has a 12 month low of $52.60 and a 12 month high of $67.57.

Amdocs (NASDAQ:DOX) last released its earnings results on Wednesday, August 7th. The technology company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Amdocs had a net margin of 9.90% and a return on equity of 15.73%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, analysts forecast that Amdocs will post 4.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, September 27th. Amdocs’s payout ratio is currently 30.48%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Amdocs by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,511,024 shares of the technology company’s stock worth $88,511,000 after acquiring an additional 40,673 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Amdocs by 1.6% during the 1st quarter. State of Alaska Department of Revenue now owns 45,375 shares of the technology company’s stock worth $2,454,000 after acquiring an additional 703 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Amdocs during the 1st quarter worth approximately $259,000. Raymond James Trust N.A. bought a new stake in shares of Amdocs during the 1st quarter worth approximately $208,000. Finally, Pennsylvania Trust Co bought a new stake in shares of Amdocs during the 1st quarter worth approximately $12,241,000. 90.70% of the stock is owned by institutional investors.

About Amdocs

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.

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