Amdocs (NASDAQ:DOX) Downgraded by BidaskClub to “Hold”

BidaskClub cut shares of Amdocs (NASDAQ:DOX) from a buy rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

A number of other analysts also recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Amdocs from $70.00 to $75.00 and gave the stock a buy rating in a research report on Friday, November 15th. JPMorgan Chase & Co. reduced their target price on shares of Amdocs from $75.00 to $72.00 and set a neutral rating on the stock in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $71.33.

Shares of Amdocs stock opened at $72.51 on Friday. The company’s fifty day simple moving average is $71.36 and its two-hundred day simple moving average is $66.63. The company has a market cap of $9.77 billion, a P/E ratio of 17.82, a PEG ratio of 2.00 and a beta of 0.40. Amdocs has a 12-month low of $52.60 and a 12-month high of $73.60.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, November 12th. The technology company reported $1.08 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.08. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. Amdocs had a net margin of 11.73% and a return on equity of 15.98%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. As a group, sell-side analysts expect that Amdocs will post 4.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Tuesday, December 31st will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Monday, December 30th. Amdocs’s dividend payout ratio is presently 28.01%.

A number of institutional investors have recently made changes to their positions in DOX. Prudential Financial Inc. bought a new position in Amdocs in the 2nd quarter worth about $1,035,000. Oppenheimer & Co. Inc. bought a new position in Amdocs in the 2nd quarter worth about $200,000. Charles Schwab Investment Management Inc. boosted its stake in Amdocs by 6.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 140,914 shares of the technology company’s stock worth $8,750,000 after purchasing an additional 7,974 shares in the last quarter. LPL Financial LLC bought a new position in Amdocs in the 2nd quarter worth about $229,000. Finally, Bank of New York Mellon Corp boosted its stake in Amdocs by 21.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 425,077 shares of the technology company’s stock worth $26,392,000 after purchasing an additional 74,285 shares in the last quarter. Institutional investors own 92.39% of the company’s stock.

About Amdocs

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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