Other equities research analysts have also issued research reports about the company. Citigroup lifted their target price on Amdocs from $96.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Jefferies Financial Group began coverage on Amdocs in a research note on Friday, December 1st. They issued a “buy” rating and a $105.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $108.60.
Amdocs Trading Up 0.5 %
Amdocs (NASDAQ:DOX – Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a return on equity of 17.77% and a net margin of 11.06%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. On average, analysts forecast that Amdocs will post 5.86 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in shares of Amdocs during the fourth quarter valued at approximately $25,000. Operose Advisors LLC raised its stake in shares of Amdocs by 148.0% in the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock worth $26,000 after purchasing an additional 185 shares during the last quarter. Oakworth Capital Inc. purchased a new stake in Amdocs in the fourth quarter worth about $26,000. VisionPoint Advisory Group LLC purchased a new stake in Amdocs in the second quarter worth about $28,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Amdocs by 106.4% in the 2nd quarter. Exchange Traded Concepts LLC now owns 642 shares of the technology company’s stock worth $63,000 after purchasing an additional 331 shares in the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
Amdocs Company Profile
Amdocs Limited, through its subsidiaries, provides software and services worldwide. It designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. The company provides CES23, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; Amdocs Subscription Marketplace, a software-as-a-service-based platform that includes an expansive network of pre-integrated digital services, such as media, gaming, eLearning, sports, and retail to security and business services; the monetization suite for charging, billing, policy, and revenue management; Intelligent networking suite with a set of modular, flexible, and open service lifecycle management capabilities for network automation journeys; amAIz, a telco GenAI framework; Amdocs Digital Brands Suite, a pre-integrated digital business suite; and Amdocs eSIM Cloud for service providers.
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