Amdocs (NASDAQ:DOX) Upgraded 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 Thursday, BidAskClub reports.

Several other research analysts have also commented on the company. Stifel Nicolaus lifted their target price on Amdocs from $70.00 to $75.00 and gave the stock a buy rating in a research report on Friday, November 15th. JPMorgan Chase & Co. dropped their price target on Amdocs from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $71.33.

Shares of DOX traded up $0.53 during midday trading on Thursday, hitting $69.80. The company had a trading volume of 940,728 shares, compared to its average volume of 826,881. The company’s 50 day moving average price is $67.35 and its 200 day moving average price is $64.49. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.92 and a beta of 0.40. Amdocs has a 52 week low of $52.60 and a 52 week high of $70.00.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Amdocs had a net margin of 11.73% and a return on equity of 15.98%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. On average, research analysts predict that Amdocs will post 4.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be given a $0.285 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.63%. Amdocs’s payout ratio is currently 28.01%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Amdocs in the second quarter worth $47,000. Morgan Dempsey Capital Management LLC lifted its position in Amdocs by 110.0% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 905 shares of the technology company’s stock valued at $56,000 after purchasing an additional 474 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Amdocs during the 2nd quarter valued at about $60,000. Tower Research Capital LLC TRC grew its position in Amdocs by 20.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the technology company’s stock worth $66,000 after purchasing an additional 171 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Amdocs in the second quarter valued at approximately $73,000. 89.23% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: What is the outlook for the FAANG stocks?

Receive News & Ratings for Amdocs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amdocs and related companies with MarketBeat.com's FREE daily email newsletter.