JPMorgan Chase & Co. Trims Amdocs (NASDAQ:DOX) Target Price to $72.00

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Amdocs (NASDAQ:DOX) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $75.00 to $72.00 in a research note issued on Wednesday, AnalystRatings.com reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 5.23% from the stock’s current price.

Several other research firms also recently commented on DOX. BidaskClub downgraded shares of Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 15th. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating and set a $67.00 price target for the company. in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.50.

Shares of NASDAQ:DOX traded up $0.10 during trading on Wednesday, hitting $68.42. 21,006 shares of the company were exchanged, compared to its average volume of 482,192. The stock has a market capitalization of $9.35 billion, a P/E ratio of 16.81, a PEG ratio of 1.84 and a beta of 0.39. Amdocs has a 12-month low of $52.60 and a 12-month high of $69.34. The firm’s 50 day moving average price is $65.95 and its 200-day moving average price is $62.94.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings data on Tuesday, November 12th. The technology company reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.03 billion. Amdocs had a net margin of 9.90% and a return on equity of 15.70%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, analysts forecast that Amdocs will post 4.28 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in DOX. Denali Advisors LLC lifted its position in shares of Amdocs by 100.0% during the 2nd quarter. Denali Advisors LLC now owns 101,800 shares of the technology company’s stock worth $6,321,000 after buying an additional 50,900 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Amdocs during the 2nd quarter worth approximately $933,000. Douglass Winthrop Advisors LLC purchased a new stake in shares of Amdocs during the 2nd quarter worth approximately $643,000. CENTRAL TRUST Co lifted its position in shares of Amdocs by 56.2% during the 2nd quarter. CENTRAL TRUST Co now owns 1,098 shares of the technology company’s stock worth $69,000 after buying an additional 395 shares during the last quarter. Finally, First Hawaiian Bank lifted its position in shares of Amdocs by 15.9% during the 2nd quarter. First Hawaiian Bank now owns 14,687 shares of the technology company’s stock worth $912,000 after buying an additional 2,017 shares during the last quarter. 90.36% of the stock is currently owned by institutional investors.

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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