Amdocs (DOX) Rating Lowered to Hold at Zacks Investment Research

Amdocs (NASDAQ:DOX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Amdocs reported decent Q2 results wherein earnings came in-line with the Zacks Consensus Estimate while revenues beat the same. Moreover, top and bottom line both marked year-over-year improvement. Amdocs has successfully combined its core billing and rating technology with customer relationship management software to emerge as a leader in the market of business support systems. With strategic acquisitions, the company has further evolved as a unique vendor providing both end-to-end business support solutions and operating support solutions to the carrier marketplace. Nonetheless, Amdocs saw a sharp decline in revenues from Europe and international markets. Economic and political uncertainty in Europe may further jeopardize the company’s financials, going forward. High concentration risk remains another significant challenge. Notably, the stock has underperformed the industry in a year’s time frame.”

Several other research analysts have also recently commented on DOX. BidaskClub cut shares of Amdocs from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Amdocs from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. ValuEngine cut shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Oppenheimer reissued a “buy” rating and issued a $77.00 price objective on shares of Amdocs in a research note on Wednesday, January 31st. Finally, JPMorgan Chase reissued a “hold” rating on shares of Amdocs in a research note on Monday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Amdocs currently has an average rating of “Hold” and a consensus target price of $70.03.

Shares of Amdocs opened at $65.56 on Wednesday, according to Marketbeat Ratings. Amdocs has a 12 month low of $65.91 and a 12 month high of $66.33. The company has a market cap of $9.44 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.21 and a beta of 0.55.

Amdocs (NASDAQ:DOX) last announced its earnings results on Thursday, May 10th. The technology company reported $0.95 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. Amdocs had a net margin of 11.36% and a return on equity of 15.07%. The company had revenue of $992.34 million for the quarter, compared to analysts’ expectations of $980.59 million. During the same period last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. research analysts predict that Amdocs will post 3.8 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its position in Amdocs by 8.8% in the first quarter. M&T Bank Corp now owns 9,411 shares of the technology company’s stock valued at $628,000 after buying an additional 764 shares in the last quarter. Mackenzie Financial Corp boosted its position in Amdocs by 2.3% in the fourth quarter. Mackenzie Financial Corp now owns 37,379 shares of the technology company’s stock valued at $2,448,000 after buying an additional 839 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in Amdocs by 18.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 5,435 shares of the technology company’s stock valued at $356,000 after buying an additional 860 shares in the last quarter. Natixis Advisors L.P. boosted its position in Amdocs by 1.5% in the first quarter. Natixis Advisors L.P. now owns 58,664 shares of the technology company’s stock valued at $3,914,000 after buying an additional 870 shares in the last quarter. Finally, Greenleaf Trust boosted its position in Amdocs by 1.7% in the fourth quarter. Greenleaf Trust now owns 53,868 shares of the technology company’s stock valued at $3,527,000 after buying an additional 886 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.

About Amdocs

Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, pay TV, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions.

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