Amdocs (NASDAQ:DOX) Rating Lowered to Hold at Wall Street Zen

Amdocs (NASDAQ:DOX) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts also recently commented on the stock. Wolfe Research restated a “peer perform” rating on shares of Amdocs in a research note on Thursday, November 13th. Bank of America cut their price target on shares of Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research note on Thursday, October 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.00.

Amdocs Stock Down 0.4%

Shares of DOX opened at $80.16 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $79.56 and a two-hundred day moving average price of $83.96. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.36 and a beta of 0.40. Amdocs has a 12 month low of $74.32 and a 12 month high of $95.41.

Institutional Trading of Amdocs

Hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. raised its position in Amdocs by 32.1% in the 3rd quarter. Alliancebernstein L.P. now owns 2,359,779 shares of the technology company’s stock worth $193,620,000 after purchasing an additional 573,349 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Amdocs by 500.0% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 420,000 shares of the technology company’s stock valued at $34,461,000 after buying an additional 350,000 shares during the period. Nordea Investment Management AB raised its position in shares of Amdocs by 18.0% during the second quarter. Nordea Investment Management AB now owns 1,879,023 shares of the technology company’s stock worth $170,803,000 after acquiring an additional 287,235 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Amdocs by 25.9% during the third quarter. AQR Capital Management LLC now owns 1,368,944 shares of the technology company’s stock valued at $111,309,000 after acquiring an additional 281,476 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Amdocs by 1,500.6% during the third quarter. Millennium Management LLC now owns 295,800 shares of the technology company’s stock valued at $24,270,000 after acquiring an additional 277,320 shares during the period. 92.02% of the stock is owned by institutional investors.

About Amdocs

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.