Amdocs (NASDAQ:DOX) Issues FY 2024 Earnings Guidance

Amdocs (NASDAQ:DOXGet Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 6.380-6.620 for the period, compared to the consensus EPS estimate of 6.510. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Amdocs also updated its FY24 guidance to ~$6.38-6.62 EPS.

Amdocs Stock Up 0.5 %

Shares of NASDAQ:DOX traded up $0.44 during midday trading on Tuesday, reaching $92.71. 685,772 shares of the company were exchanged, compared to its average volume of 588,591. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.22. Amdocs has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The stock has a fifty day simple moving average of $88.65 and a two-hundred day simple moving average of $86.64. The firm has a market cap of $10.88 billion, a PE ratio of 20.69, a P/E/G ratio of 1.50 and a beta of 0.69.

Amdocs (NASDAQ:DOXGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a net margin of 11.06% and a return on equity of 17.77%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business earned $1.33 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amdocs will post 5.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of Amdocs from $96.00 to $104.00 and gave the stock a buy rating in a report on Wednesday, January 17th. StockNews.com raised shares of Amdocs from a buy rating to a strong-buy rating in a report on Monday. Finally, Jefferies Financial Group began coverage on shares of Amdocs in a report on Friday, December 1st. They issued a buy rating and a $105.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $108.60.

Check Out Our Latest Research Report on DOX

Hedge Funds Weigh In On Amdocs

A number of institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership acquired a new position in Amdocs in the 1st quarter valued at approximately $104,410,000. Norges Bank acquired a new position in Amdocs in the 4th quarter valued at approximately $112,930,000. Alliancebernstein L.P. boosted its stake in shares of Amdocs by 76.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,133,405 shares of the technology company’s stock valued at $103,027,000 after purchasing an additional 491,265 shares during the last quarter. Amundi boosted its stake in shares of Amdocs by 48.1% in the 4th quarter. Amundi now owns 930,213 shares of the technology company’s stock valued at $82,780,000 after purchasing an additional 302,098 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Amdocs by 137.3% in the 4th quarter. Lazard Asset Management LLC now owns 483,379 shares of the technology company’s stock valued at $43,938,000 after purchasing an additional 279,654 shares during the last quarter. 90.58% of the stock is currently owned by institutional investors and hedge funds.

Amdocs Company Profile

(Get Free Report)

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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