Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, May 12th. The firm presently has a $71.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.65% from the stock’s current price.
According to Zacks, “Amdocs reported relatively healthy second-quarter fiscal 2017 results with modest year-over-year improvement in revenues and earnings that beat the respective Zacks Consensus Estimates. Amdocs further aims to improve its revenues with an innovative product portfolio. The company is collaborating with major telecom players across the globe to strengthen its position in the market. With a diligent execution of operational plans, Amdocs has outperformed the Zacks categorized IT Services industry in the last three months. For fiscal 2017, Amdocs increased its revenue guidance on favorable growth dynamics and strength in the business model. The company also remains on track to deliver non-GAAP EPS growth of 4.5–8.5%. However, Amdocs is exposed to risks related to adverse foreign exchange movements and slow-paced growth in European and emerging markets that undermine its growth potential to some extent.”
A number of other brokerages have also commented on DOX. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $70.00 price objective (up from $65.00) on shares of Amdocs Limited in a report on Tuesday, March 7th. Robert W. Baird boosted their price objective on Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, May 10th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $68.00 target price on shares of Amdocs Limited in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.29.
Amdocs Limited (NASDAQ DOX) traded down 0.51% during trading on Friday, reaching $64.75. The company’s stock had a trading volume of 792,329 shares. The firm has a market cap of $9.48 billion, a P/E ratio of 23.47 and a beta of 0.54. Amdocs Limited has a 52 week low of $54.12 and a 52 week high of $66.48. The stock’s 50 day moving average is $63.82 and its 200-day moving average is $61.03.
Amdocs Limited (NASDAQ:DOX) last issued its earnings results on Tuesday, May 9th. The technology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Amdocs Limited had a return on equity of 14.46% and a net margin of 10.84%. The business had revenue of $966 million during the quarter, compared to analyst estimates of $960.58 million. During the same period in the previous year, the company posted $0.92 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Amdocs Limited will post $3.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.36%. Amdocs Limited’s dividend payout ratio (DPR) is presently 31.88%.
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Several large investors have recently modified their holdings of the company. Robecosam AG acquired a new stake in shares of Amdocs Limited during the first quarter worth about $114,000. Creative Planning increased its stake in shares of Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock worth $134,000 after buying an additional 847 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Amdocs Limited by 30.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,969 shares of the technology company’s stock worth $181,000 after buying an additional 696 shares during the period. HighTower Advisors LLC purchased a new position in Amdocs Limited during the first quarter worth approximately $220,000. Finally, ProShare Advisors LLC purchased a new position in Amdocs Limited during the first quarter worth approximately $224,000. Institutional investors own 91.03% of the company’s stock.
About Amdocs Limited
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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