Amdocs Limited (DOX) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Amdocs Limited (NASDAQ:DOX) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday.

Several other analysts have also recently issued reports on DOX. Oppenheimer Holdings, Inc. restated a buy rating and set a $77.00 price objective (up previously from $70.00) on shares of Amdocs Limited in a research note on Monday, September 18th. Zacks Investment Research upgraded Amdocs Limited from a hold rating to a buy rating and set a $75.00 price target on the stock in a research report on Friday, August 4th. Barclays PLC reissued a hold rating and issued a $68.00 price objective on shares of Amdocs Limited in a report on Friday, August 4th. Stifel Nicolaus reissued a buy rating and issued a $72.00 price objective (up from $68.00) on shares of Amdocs Limited in a report on Thursday, August 3rd. Finally, Robert W. Baird reissued a hold rating and issued a $66.00 price objective on shares of Amdocs Limited in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $69.88.

Amdocs Limited (DOX) traded down 0.46% during midday trading on Tuesday, reaching $64.80. The company’s stock had a trading volume of 307,632 shares. The company has a 50 day moving average of $64.88 and a 200-day moving average of $64.29. Amdocs Limited has a 1-year low of $54.91 and a 1-year high of $67.98. The company has a market capitalization of $9.42 billion, a P/E ratio of 22.57 and a beta of 0.53.

Amdocs Limited (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $1.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.06. Amdocs Limited had a return on equity of 14.75% and a net margin of 11.11%. The business had revenue of $967.00 million for the quarter, compared to analysts’ expectations of $967.04 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Amdocs Limited will post $3.81 earnings per share for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of DOX. Janus Henderson Group PLC increased its position in Amdocs Limited by 105,711.6% during the second quarter. Janus Henderson Group PLC now owns 7,431,146 shares of the technology company’s stock worth $479,012,000 after buying an additional 7,424,123 shares during the last quarter. FIL Ltd increased its position in Amdocs Limited by 157.9% during the second quarter. FIL Ltd now owns 4,137,393 shares of the technology company’s stock worth $266,696,000 after buying an additional 2,532,928 shares during the last quarter. FMR LLC increased its position in Amdocs Limited by 13.6% during the second quarter. FMR LLC now owns 14,342,346 shares of the technology company’s stock worth $924,507,000 after buying an additional 1,722,080 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Amdocs Limited by 31.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,119,423 shares of the technology company’s stock worth $68,280,000 after buying an additional 267,943 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Amdocs Limited by 6.0% during the second quarter. Wells Fargo & Company MN now owns 4,685,936 shares of the technology company’s stock worth $302,057,000 after buying an additional 266,473 shares during the last quarter. 91.05% 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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