Amdocs Limited (NASDAQ:DOX) Rating Increased to Hold at BidaskClub

Amdocs Limited (NASDAQ:DOX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, August 1st.

DOX has been the subject of several other research reports. Zacks Investment Research lowered shares of Amdocs Limited from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 target price on shares of Amdocs Limited in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $59.00 target price on shares of Amdocs Limited in a research note on Friday, June 16th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $68.00 price objective on shares of Amdocs Limited in a research note on Tuesday, May 9th. Finally, Robert W. Baird raised their price objective on shares of Amdocs Limited from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.63.

Amdocs Limited (DOX) opened at 62.36 on Tuesday. The company has a market cap of $9.06 billion, a PE ratio of 21.72 and a beta of 0.54. Amdocs Limited has a 52-week low of $54.91 and a 52-week high of $67.98. The firm’s 50 day moving average is $65.16 and its 200 day moving average is $62.88.

Amdocs Limited (NASDAQ:DOX) last announced its earnings results on Wednesday, August 2nd. The technology company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The company had revenue of $967 million during the quarter, compared to analyst estimates of $967.04 million. Amdocs Limited had a net margin of 11.11% and a return on equity of 14.75%. Amdocs Limited’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 earnings per share. Analysts forecast that Amdocs Limited will post $3.81 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. Oak Associates Ltd. OH boosted its stake in shares of Amdocs Limited by 4.4% in the second quarter. Oak Associates Ltd. OH now owns 155,395 shares of the technology company’s stock valued at $10,017,000 after buying an additional 6,500 shares during the period. Robecosam AG boosted its stake in shares of Amdocs Limited by 37.8% in the second quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after buying an additional 700 shares during the period. BB&T Investment Services Inc. purchased a new stake in shares of Amdocs Limited during the second quarter valued at $118,000. Scotia Capital Inc. boosted its stake in shares of Amdocs Limited by 10.3% in the second quarter. Scotia Capital Inc. now owns 12,015 shares of the technology company’s stock valued at $774,000 after buying an additional 1,125 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in shares of Amdocs Limited during the second quarter valued at $419,000. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

Amdocs Limited 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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