Latest Stocks: Amdocs Limited (DOX) Rating Increased to Buy at Zacks Investment Research

Latest Stocks: Amdocs Limited (DOX) Rating Increased to Buy at Zacks Investment Research

Amdocs Limited (NASDAQ:DOX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, May 12th. The firm currently has a $71.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.02% from the stock’s previous close.

According to Zacks, “Amdocs reported relatively healthy second-quarter fiscal 2017 results with modest year-over-year improvement in revenues and earnings that beat the respective Zacks Consensus Estimates. Amdocs further aims to improve its revenues with an innovative product portfolio. The company is collaborating with major telecom players across the globe to strengthen its position in the market. With a diligent execution of operational plans, Amdocs has outperformed the Zacks categorized IT Services industry in the last three months. For fiscal 2017, Amdocs increased its revenue guidance on favorable growth dynamics and strength in the business model. The company also remains on track to deliver non-GAAP EPS growth of 4.5–8.5%. However, Amdocs is exposed to risks related to adverse foreign exchange movements and slow-paced growth in European and emerging markets that undermine its growth potential to some extent.”

Several other equities analysts have also weighed in on DOX. JPMorgan Chase & Co. restated a “neutral” rating and set a $68.00 target price on shares of Amdocs Limited in a report on Tuesday, May 9th. Robert W. Baird lifted their price target on shares of Amdocs Limited from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $65.00) on shares of Amdocs Limited in a research note on Tuesday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.14.

Amdocs Limited (NASDAQ:DOX) opened at 65.73 on Friday. The stock has a market cap of $9.63 billion, a PE ratio of 23.82 and a beta of 0.64. The stock has a 50 day moving average price of $62.77 and a 200 day moving average price of $60.69. Amdocs Limited has a 1-year low of $54.12 and a 1-year high of $66.48. Amdocs Limited (NASDAQ:DOX) last posted its earnings results on Tuesday, May 9th. The technology company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The business had revenue of $966 million for the quarter, compared to analyst estimates of $960.58 million. Amdocs Limited had a net margin of 10.83% and a return on equity of 14.57%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. On average, analysts predict that Amdocs Limited will post $3.79 EPS for the current fiscal year.

Amdocs Limited (NASDAQ:DOX) opened at 65.73 on Friday. The stock has a market cap of $9.63 billion, a PE ratio of 23.82 and a beta of 0.64. The stock has a 50 day moving average price of $62.77 and a 200 day moving average price of $60.69. Amdocs Limited has a 1-year low of $54.12 and a 1-year high of $66.48. Large investors have recently added to or reduced their stakes in the company. Robecosam AG bought a new stake in Amdocs Limited during the first quarter valued at $114,000. Creative Planning increased its stake in Amdocs Limited by 62.7% in the first quarter. Creative Planning now owns 2,198 shares of the technology company’s stock valued at $134,000 after buying an additional 847 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Amdocs Limited by 30.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,969 shares of the technology company’s stock valued at $181,000 after buying an additional 696 shares during the last quarter. HighTower Advisors LLC bought a new stake in Amdocs Limited during the first quarter valued at $220,000. Finally, ProShare Advisors LLC bought a new stake in Amdocs Limited during the first quarter valued at $224,000. 89.04% of the stock is owned by institutional investors.

Get a free copy of the Zacks research report on Amdocs Limited (DOX) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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