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Amdocs (DOX) Receives a Buy from Oppenheimer


In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on Amdocs (DOX), with a price target of $77. The company’s shares closed yesterday at $64.34.

Eyal commented:

“For F4Q18 (Sep ’18), DOX posted $0.99/$1,003M, ahead of the consensus $0.98/ $1,002M. For the full year, broad-based activity with several significant clients helped offset a 16% decline in revenue from AT&T. Despite near-term AT&T-related uncertainty, demand in the broader North American market remains strong, and DOX is well-positioned to benefit from telecom industry consolidation. In Europe, DOX saw its best quarter in more than a decade, winning multiple significant engagements. World, DOX closed a record year with a strong quarter and a six-figure deal. DOX’s board approved a dividend increase to $0.285/sh from $0.25/sh (shareholder vote in the company plans to return the majority of ~$600M in FY19 normalized cash flow to shareholders. $77 target.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.7% and a 67.1% success rate. Eyal covers the Technology sector, focusing on stocks such as Proofpoint Inc, Nice-Systems, and Mimecast Ltd.

Amdocs has an analyst consensus of Moderate Buy, with a price target consensus of $77.

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Amdocs’ market cap is currently $9.1B and has a P/E ratio of 22.42. The company has a Price to Book ratio of 2.59.

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Amdocs Ltd. is a holding company, which engages in the provision of software and services solutions for communications, entertainment and media industries. It specializes in the development, implementation, and management of software and services associate with business support systems, operational support systems, network solutions, and big data analytics to enable service providers introduce new products and services, process orders, monetize data, and support new business models. The company was founded in 1988 and is headquartered in Chesterfield, MO.