Amdocs Limited (DOX): Share price cycles in bullish 'flag'

Filed under: Earnings reports, Analyst upgrades and downgrades, AT and T (T), Sprint Nextel Corp (S), Verizon Communications (VZ), Technical Analysis, Stocks to Buy

Amdocs Limited (NYSE: DOX) provides customer relationship management, sales and billing software used primarily by telecommunications service firms. It also sells publishing software for generating print and online directories and offers a variety of outsourced communications facility management services. Clients include AT&T (NYSE: T), Sprint Nextel (NYSE: S) and Verizon Communications (NYSE: VZ).

Investors were pleased last week, when Amdocs reported Q2 EPS of 58 cents and revenues of $774.3 million. The Street had been looking for 57 cents and $761.7 million. The CEO noted particular strength in the managed services businesses. The firm also guided Q3 EPS to 59-61 cents (59 cent consensus), Q3 revenues to $790-$805 million ($784.36M consensus), FY08 EPS to $2.31-$2.37 ($2.35 consensus) and FY08 revenues to $3.09-$3.15 billion ($3.1B consensus). Wedbush Morgan subsequently reiterated its "strong buy" rating on the issue (tgt = $42) and Cantor Fitzgerald reiterated its "buy" (tgt = $45)

Continue reading Amdocs Limited (DOX): Share price cycles in bullish 'flag'

<map name="google_ad_map_145-1175447"><area href="http://imageads.googleadservices.com/pagead/imgclick/145-1175447?pos=0" shape="rect" coords="1,2,367,28" /><area href="http://services.google.com/feedback/abg" shape="rect" coords="384,10,453,23" /></map>