Amdocs (NASDAQ:DOX) Raised to “Buy” at Wall Street Zen

Amdocs (NASDAQ:DOX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Amdocs Stock Performance

Shares of DOX opened at $92.28 on Friday. The firm has a market cap of $10.42 billion, a P/E ratio of 21.41, a PEG ratio of 1.47 and a beta of 0.52. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.16. The firm’s 50 day moving average price is $88.14 and its two-hundred day moving average price is $87.44.

Amdocs (NASDAQ:DOX) last announced its earnings results on Wednesday, May 7th. The technology company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.07. Amdocs had a net margin of 10.19% and a return on equity of 18.89%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the business earned $1.56 EPS. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. On average, analysts forecast that Amdocs will post 6.21 EPS for the current fiscal year.

Institutional Trading of Amdocs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC increased its position in shares of Amdocs by 4.3% during the 4th quarter. Pzena Investment Management LLC now owns 6,634,549 shares of the technology company’s stock worth $564,866,000 after purchasing an additional 270,810 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Amdocs by 2.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,263,591 shares of the technology company’s stock valued at $274,681,000 after buying an additional 87,801 shares in the last quarter. LSV Asset Management grew its stake in shares of Amdocs by 11.1% in the first quarter. LSV Asset Management now owns 3,180,501 shares of the technology company’s stock valued at $291,016,000 after buying an additional 317,412 shares in the last quarter. Vanguard Group Inc. increased its holdings in Amdocs by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 3,074,424 shares of the technology company’s stock worth $261,756,000 after buying an additional 426,035 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Amdocs by 25.4% during the fourth quarter. Wellington Management Group LLP now owns 2,680,422 shares of the technology company’s stock worth $228,211,000 after acquiring an additional 543,490 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

About Amdocs

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.