Amdocs (DOX) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of Amdocs (NASDAQ:DOX) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Amdocs from a hold rating to a sell rating in a research note on Friday, September 21st. JPMorgan Chase & Co. set a $70.00 price objective on Amdocs and gave the stock a hold rating in a research note on Tuesday, December 11th. Finally, TheStreet lowered Amdocs from a b rating to a c+ rating in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $72.28.

NASDAQ DOX opened at $60.00 on Thursday. Amdocs has a fifty-two week low of $55.89 and a fifty-two week high of $71.72. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.78 and a beta of 0.60.

Amdocs (NASDAQ:DOX) last posted its earnings results on Thursday, November 8th. The technology company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.02). Amdocs had a net margin of 8.92% and a return on equity of 15.06%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business earned $0.94 earnings per share. Amdocs’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Amdocs will post 3.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, December 28th. Amdocs’s payout ratio is 26.74%.

Several institutional investors and hedge funds have recently made changes to their positions in DOX. Nordea Investment Management AB acquired a new position in shares of Amdocs in the 3rd quarter worth approximately $138,713,000. Janus Henderson Group PLC lifted its holdings in Amdocs by 12.0% during the 3rd quarter. Janus Henderson Group PLC now owns 9,409,175 shares of the technology company’s stock worth $620,818,000 after buying an additional 1,005,564 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in Amdocs by 23.1% during the 3rd quarter. OppenheimerFunds Inc. now owns 3,716,993 shares of the technology company’s stock worth $245,247,000 after buying an additional 697,639 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Amdocs by 47.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,417,153 shares of the technology company’s stock worth $93,535,000 after buying an additional 459,024 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Amdocs by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,446,127 shares of the technology company’s stock worth $425,316,000 after buying an additional 375,255 shares in the last quarter. 93.61% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Company Profile

Amdocs Limited, through its subsidiaries, provides software and services to the communications, pay TV, entertainment, and media industry service providers worldwide. The company offers amdocsONE a line of services designed for various stages of a service provider's lifecycle, including planning, delivery, implementation, and ongoing support, as well as consumer experience and monetization, media and digital, enterprise and connected society, service-driven network, and services and agile operation solutions.

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