Amdocs (DOX) Sees Large Volume Increase After Earnings Beat
Shares of Amdocs Limited (NASDAQ:DOX) saw an uptick in trading volume on Wednesday following a stronger than expected earnings report. 3,458,421 shares traded hands during trading, an increase of 211% from the previous session’s volume of 1,112,279 shares.The stock last traded at $60.39 and had previously closed at $53.46.
The technology company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Amdocs had a net margin of 8.46% and a return on equity of 14.75%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.
A number of brokerages have recently issued reports on DOX. BidaskClub downgraded shares of Amdocs from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. ValuEngine raised shares of Amdocs from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Amdocs from $70.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $72.60.
The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.60 and a beta of 0.52.
About Amdocs (NASDAQ:DOX)
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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