Amdocs (NASDAQ:DOX – Get Rating) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.72-5.94 for the period, compared to the consensus EPS estimate of $5.91. The company issued revenue guidance of $4.76-4.94 billion, compared to the consensus revenue estimate of $4.93 billion. Amdocs also updated its FY 2023 guidance to $5.72-$5.94 EPS.
Amdocs Stock Performance
Shares of Amdocs stock traded up $0.75 on Tuesday, reaching $81.76. 671,692 shares of the company traded hands, compared to its average volume of 636,076. Amdocs has a 52 week low of $68.33 and a 52 week high of $90.77. The company has a 50 day moving average of $82.07 and a 200 day moving average of $83.40. The firm has a market capitalization of $10.72 billion, a PE ratio of 18.75, a PEG ratio of 1.31 and a beta of 0.69. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.59 and a quick ratio of 1.59.
Amdocs (NASDAQ:DOX – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The technology company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.16 by $0.13. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Amdocs had a net margin of 12.10% and a return on equity of 16.37%. Amdocs’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.07 EPS. Equities analysts forecast that Amdocs will post 4.83 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms recently commented on DOX. Citigroup raised their price objective on shares of Amdocs from $90.00 to $99.00 and gave the stock a buy rating in a report on Thursday, August 4th. Barclays raised their price objective on shares of Amdocs from $89.00 to $95.00 and gave the stock an equal weight rating in a report on Thursday, August 4th. Finally, StockNews.com downgraded shares of Amdocs from a strong-buy rating to a buy rating in a report on Tuesday, October 11th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amdocs has an average rating of Moderate Buy and an average price target of $93.33.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Brinker Capital Investments LLC boosted its holdings in Amdocs by 1.3% in the 1st quarter. Brinker Capital Investments LLC now owns 23,539 shares of the technology company’s stock valued at $1,935,000 after purchasing an additional 309 shares during the period. Yousif Capital Management LLC boosted its holdings in Amdocs by 6.4% in the 1st quarter. Yousif Capital Management LLC now owns 6,770 shares of the technology company’s stock valued at $557,000 after purchasing an additional 405 shares during the period. Cetera Investment Advisers raised its position in shares of Amdocs by 10.0% during the 1st quarter. Cetera Investment Advisers now owns 6,672 shares of the technology company’s stock valued at $549,000 after buying an additional 609 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Amdocs by 6.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,833 shares of the technology company’s stock valued at $973,000 after buying an additional 665 shares in the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Amdocs by 21.1% during the 1st quarter. Raymond James Trust N.A. now owns 5,551 shares of the technology company’s stock valued at $456,000 after buying an additional 969 shares in the last quarter. 88.11% of the stock is owned by institutional investors.
Amdocs Company Profile
Amdocs Limited, through its subsidiaries, provides software and services worldwide. The company designs, develops, operates, implements, supports, and markets open and modular cloud portfolio. It provides CES21, a 5G and cloud-native microservices-based market-leading customer experience suite, that enables service providers to build, deliver, and monetize advanced services; the Commerce and Care suite for order capture, handling, and customer engagement; 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; MarketONE, a cloud-native business ecosystem; Digital Brands Suite, a pre-integrated digital business suite for digital telecom brands and small-scale service providers; and eSIM Cloud for service providers.
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Read More: Amdocs (NASDAQ:DOX) Issues FY23 Earnings Guidance