Zacks Investment Research cut shares of Amdocs (NASDAQ:DOX) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Estimates for Amdocs have remained stable of late. Amdocs has successfully combined its core billing and rating technology with customer relationship management software to emerge as a leader in the market of business support systems. With strategic acquisitions, the company has further evolved as a unique vendor providing both end-to-end business support solutions and operating support solutions to the carrier marketplace. Moreover, solid execution across multiple dimensions of its business and continuous project wins remain positives. Nonetheless, Amdocs saw a sharp decline in revenues from Europe and international markets. Economic and political uncertainty in Europe may further jeopardize the company’s financials, going forward. High concentration risk remains another significant challenge. Notably, the stock has underperformed the industry in a year’s time frame.”
A number of other equities analysts have also weighed in on DOX. BidaskClub upgraded shares of Amdocs from a sell rating to a hold rating in a research report on Wednesday, March 21st. Stifel Nicolaus boosted their price target on shares of Amdocs from $72.00 to $75.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. Jefferies Group upgraded shares of Amdocs from a hold rating to a buy rating and lowered their price target for the stock from $71.37 to $60.20 in a research report on Monday, March 19th. Oppenheimer restated a buy rating and set a $77.00 price target on shares of Amdocs in a research report on Wednesday, January 31st. Finally, ValuEngine upgraded shares of Amdocs from a hold rating to a buy rating in a research report on Thursday, March 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $69.74.
Amdocs (NASDAQ:DOX) last posted its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.17. The firm had revenue of $977.70 million for the quarter, compared to analyst estimates of $979.13 million. Amdocs had a net margin of 11.72% and a return on equity of 15.13%. Amdocs’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. analysts anticipate that Amdocs will post 3.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Friday, March 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.52%. This is a positive change from Amdocs’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, March 28th. Amdocs’s payout ratio is presently 28.17%.
Large investors have recently bought and sold shares of the business. New York State Common Retirement Fund lifted its holdings in shares of Amdocs by 49.2% in the 3rd quarter. New York State Common Retirement Fund now owns 739,279 shares of the technology company’s stock worth $47,550,000 after acquiring an additional 243,679 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Amdocs by 5.9% in the 3rd quarter. Legal & General Group Plc now owns 671,177 shares of the technology company’s stock worth $43,159,000 after acquiring an additional 37,250 shares during the last quarter. BB&T Securities LLC lifted its holdings in shares of Amdocs by 7.9% in the 3rd quarter. BB&T Securities LLC now owns 13,502 shares of the technology company’s stock worth $868,000 after acquiring an additional 986 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Amdocs by 3.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,186,262 shares of the technology company’s stock worth $76,298,000 after acquiring an additional 38,480 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Amdocs by 11.8% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 10,499 shares of the technology company’s stock worth $675,000 after acquiring an additional 1,110 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.
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Amdocs Company Profile
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
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