Intrinsic value of Amdocs - DOX

Previous Close

$62.53

  Intrinsic Value

$61.48

stock screener

  Rating & Target

hold

-2%

  Value-price divergence*

+2%

Previous close

$62.53

 
Intrinsic value

$61.48

 
Up/down potential

-2%

 
Rating

hold

 
Value-price divergence*

+2%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of DOX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 9.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.03
  4.30
  4.37
  4.43
  4.49
  4.54
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.89
  4.91
  4.91
  4.92
  4.93
  4.94
  4.94
  4.95
  4.95
  4.96
  4.96
  4.97
Revenue, $m
  3,718
  3,878
  4,047
  4,227
  4,417
  4,617
  4,829
  5,052
  5,288
  5,536
  5,798
  6,074
  6,364
  6,670
  6,992
  7,330
  7,686
  8,060
  8,454
  8,868
  9,303
  9,760
  10,241
  10,745
  11,276
  11,834
  12,419
  13,035
  13,681
  14,360
  15,073
Variable operating expenses, $m
 
  3,322
  3,457
  3,601
  3,752
  3,913
  4,082
  4,261
  4,449
  4,648
  4,857
  4,856
  5,088
  5,333
  5,590
  5,860
  6,145
  6,444
  6,759
  7,090
  7,438
  7,803
  8,187
  8,591
  9,015
  9,461
  9,929
  10,421
  10,938
  11,481
  12,051
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,235
  3,322
  3,457
  3,601
  3,752
  3,913
  4,082
  4,261
  4,449
  4,648
  4,857
  4,856
  5,088
  5,333
  5,590
  5,860
  6,145
  6,444
  6,759
  7,090
  7,438
  7,803
  8,187
  8,591
  9,015
  9,461
  9,929
  10,421
  10,938
  11,481
  12,051
Operating income, $m
  483
  556
  590
  626
  664
  704
  747
  792
  839
  889
  941
  1,218
  1,276
  1,337
  1,402
  1,470
  1,541
  1,616
  1,695
  1,778
  1,865
  1,957
  2,053
  2,154
  2,261
  2,373
  2,490
  2,613
  2,743
  2,879
  3,022
EBITDA, $m
  695
  825
  861
  900
  940
  983
  1,028
  1,075
  1,125
  1,178
  1,234
  1,293
  1,355
  1,420
  1,488
  1,560
  1,636
  1,716
  1,799
  1,887
  1,980
  2,077
  2,180
  2,287
  2,400
  2,519
  2,643
  2,774
  2,912
  3,056
  3,208
Interest expense (income), $m
  1
  0
  3
  5
  8
  11
  14
  18
  21
  25
  29
  33
  37
  42
  47
  52
  57
  63
  69
  75
  81
  88
  95
  103
  111
  119
  128
  137
  147
  157
  168
Earnings before tax, $m
  485
  556
  588
  621
  656
  693
  733
  774
  818
  864
  913
  1,185
  1,239
  1,296
  1,355
  1,418
  1,484
  1,553
  1,626
  1,703
  1,784
  1,869
  1,958
  2,051
  2,150
  2,253
  2,362
  2,476
  2,596
  2,722
  2,854
Tax expense, $m
  76
  150
  159
  168
  177
  187
  198
  209
  221
  233
  246
  320
  334
  350
  366
  383
  401
  419
  439
  460
  482
  505
  529
  554
  580
  608
  638
  669
  701
  735
  771
Net income, $m
  409
  406
  429
  453
  479
  506
  535
  565
  597
  631
  666
  865
  904
  946
  989
  1,035
  1,083
  1,134
  1,187
  1,243
  1,302
  1,364
  1,429
  1,498
  1,569
  1,645
  1,724
  1,807
  1,895
  1,987
  2,084

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,096
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,331
  4,417
  4,610
  4,814
  5,030
  5,259
  5,500
  5,754
  6,023
  6,306
  6,604
  6,918
  7,249
  7,597
  7,963
  8,349
  8,754
  9,180
  9,629
  10,100
  10,595
  11,116
  11,663
  12,239
  12,843
  13,478
  14,145
  14,846
  15,582
  16,356
  17,168
Adjusted assets (=assets-cash), $m
  4,235
  4,417
  4,610
  4,814
  5,030
  5,259
  5,500
  5,754
  6,023
  6,306
  6,604
  6,918
  7,249
  7,597
  7,963
  8,349
  8,754
  9,180
  9,629
  10,100
  10,595
  11,116
  11,663
  12,239
  12,843
  13,478
  14,145
  14,846
  15,582
  16,356
  17,168
Revenue / Adjusted assets
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
  0.878
Average production assets, $m
  588
  613
  639
  668
  698
  729
  763
  798
  836
  875
  916
  960
  1,006
  1,054
  1,105
  1,158
  1,214
  1,274
  1,336
  1,401
  1,470
  1,542
  1,618
  1,698
  1,782
  1,870
  1,962
  2,059
  2,162
  2,269
  2,382
Working capital, $m
  734
  -171
  -178
  -186
  -194
  -203
  -212
  -222
  -233
  -244
  -255
  -267
  -280
  -293
  -308
  -323
  -338
  -355
  -372
  -390
  -409
  -429
  -451
  -473
  -496
  -521
  -546
  -574
  -602
  -632
  -663
Total debt, $m
  200
  72
  148
  229
  315
  405
  501
  602
  708
  820
  938
  1,063
  1,194
  1,331
  1,476
  1,629
  1,790
  1,958
  2,136
  2,323
  2,519
  2,725
  2,942
  3,169
  3,409
  3,660
  3,924
  4,202
  4,494
  4,800
  5,121
Total liabilities, $m
  1,878
  1,749
  1,825
  1,906
  1,992
  2,082
  2,178
  2,279
  2,385
  2,497
  2,615
  2,740
  2,871
  3,008
  3,153
  3,306
  3,467
  3,635
  3,813
  4,000
  4,196
  4,402
  4,619
  4,846
  5,086
  5,337
  5,601
  5,879
  6,171
  6,477
  6,798
Total equity, $m
  3,454
  2,668
  2,784
  2,908
  3,038
  3,176
  3,322
  3,476
  3,638
  3,809
  3,989
  4,179
  4,378
  4,589
  4,810
  5,043
  5,287
  5,545
  5,816
  6,100
  6,400
  6,714
  7,045
  7,392
  7,757
  8,141
  8,544
  8,967
  9,412
  9,879
  10,369
Total liabilities and equity, $m
  5,332
  4,417
  4,609
  4,814
  5,030
  5,258
  5,500
  5,755
  6,023
  6,306
  6,604
  6,919
  7,249
  7,597
  7,963
  8,349
  8,754
  9,180
  9,629
  10,100
  10,596
  11,116
  11,664
  12,238
  12,843
  13,478
  14,145
  14,846
  15,583
  16,356
  17,167
Debt-to-equity ratio
  0.058
  0.030
  0.050
  0.080
  0.100
  0.130
  0.150
  0.170
  0.190
  0.220
  0.240
  0.250
  0.270
  0.290
  0.310
  0.320
  0.340
  0.350
  0.370
  0.380
  0.390
  0.410
  0.420
  0.430
  0.440
  0.450
  0.460
  0.470
  0.480
  0.490
  0.490
Adjusted equity ratio
  0.557
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  409
  406
  429
  453
  479
  506
  535
  565
  597
  631
  666
  865
  904
  946
  989
  1,035
  1,083
  1,134
  1,187
  1,243
  1,302
  1,364
  1,429
  1,498
  1,569
  1,645
  1,724
  1,807
  1,895
  1,987
  2,084
Depreciation, amort., depletion, $m
  212
  269
  271
  273
  276
  278
  281
  284
  286
  290
  293
  75
  79
  82
  86
  90
  95
  99
  104
  109
  115
  120
  126
  133
  139
  146
  153
  161
  169
  177
  186
Funds from operations, $m
  585
  675
  700
  727
  755
  784
  816
  849
  884
  920
  959
  940
  983
  1,028
  1,076
  1,126
  1,178
  1,233
  1,292
  1,353
  1,417
  1,485
  1,556
  1,630
  1,709
  1,791
  1,877
  1,968
  2,064
  2,164
  2,270
Change in working capital, $m
  -35
  -7
  -7
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -16
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -28
  -30
  -31
Cash from operations, $m
  620
  682
  708
  735
  763
  793
  825
  859
  894
  931
  971
  952
  996
  1,042
  1,090
  1,140
  1,194
  1,250
  1,309
  1,371
  1,436
  1,505
  1,577
  1,652
  1,732
  1,815
  1,903
  1,995
  2,092
  2,194
  2,301
Maintenance CAPEX, $m
  0
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -62
  -65
  -68
  -72
  -75
  -79
  -82
  -86
  -90
  -95
  -99
  -104
  -109
  -115
  -120
  -126
  -133
  -139
  -146
  -153
  -161
  -169
  -177
New CAPEX, $m
  -130
  -25
  -27
  -28
  -30
  -32
  -33
  -35
  -37
  -39
  -41
  -44
  -46
  -48
  -51
  -53
  -56
  -59
  -62
  -65
  -69
  -72
  -76
  -80
  -84
  -88
  -93
  -97
  -102
  -107
  -113
Cash from investing activities, $m
  -441
  -71
  -75
  -78
  -82
  -87
  -90
  -95
  -99
  -104
  -109
  -116
  -121
  -127
  -133
  -139
  -146
  -154
  -161
  -169
  -178
  -187
  -196
  -206
  -217
  -227
  -239
  -250
  -263
  -276
  -290
Free cash flow, $m
  179
  612
  633
  656
  681
  707
  735
  764
  794
  827
  861
  837
  875
  915
  957
  1,001
  1,047
  1,096
  1,147
  1,201
  1,258
  1,318
  1,380
  1,446
  1,515
  1,588
  1,665
  1,745
  1,829
  1,918
  2,011
Issuance/(repayment) of debt, $m
  -20
  72
  76
  81
  86
  90
  96
  101
  106
  112
  118
  124
  131
  138
  145
  153
  161
  169
  178
  187
  196
  206
  217
  228
  239
  251
  264
  278
  292
  306
  322
Issuance/(repurchase) of shares, $m
  -324
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -337
  72
  76
  81
  86
  90
  96
  101
  106
  112
  118
  124
  131
  138
  145
  153
  161
  169
  178
  187
  196
  206
  217
  228
  239
  251
  264
  278
  292
  306
  322
Total cash flow (excl. dividends), $m
  -158
  684
  709
  737
  767
  797
  830
  864
  901
  939
  979
  961
  1,006
  1,053
  1,102
  1,153
  1,208
  1,265
  1,325
  1,388
  1,454
  1,524
  1,597
  1,674
  1,755
  1,840
  1,929
  2,022
  2,121
  2,224
  2,333
Retained Cash Flow (-), $m
  -47
  -110
  -117
  -123
  -131
  -138
  -146
  -154
  -162
  -171
  -180
  -190
  -200
  -210
  -221
  -233
  -245
  -258
  -271
  -285
  -299
  -315
  -331
  -347
  -365
  -384
  -403
  -423
  -445
  -467
  -491
Prev. year cash balance distribution, $m
 
  896
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,470
  593
  614
  636
  660
  684
  711
  739
  768
  799
  772
  806
  842
  880
  921
  963
  1,007
  1,054
  1,103
  1,155
  1,209
  1,267
  1,327
  1,390
  1,456
  1,526
  1,599
  1,676
  1,757
  1,842
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,409
  543
  534
  524
  511
  497
  480
  462
  441
  419
  366
  344
  320
  296
  270
  245
  219
  194
  170
  147
  125
  105
  87
  71
  57
  45
  34
  26
  19
  14
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Amdocs Limited, through its subsidiaries, provides software and services solutions to the communications, entertainment, and media industry service providers worldwide. The company offers customer experience and monetization solutions that allow its customers to contextual and personalize interactions in interaction channels. It also provides network solutions to design, deploy, operate, and optimize mobile networks; operational support systems for fixed line, broadband, wireless, and cable TV networks; and network optimization suite to plan, build, launch, manage, and optimize radio access networks. In addition, the company offers network functions virtualization standards-based software solutions to virtualize network services; and network control products, whcih manage the subscriber or device experience in real time, including controlling access to 3G, 4G, fixed, and convergent networks, as well as managing the consumption of bandwidth. Further, it provides Internet of things monetization and connected home platforms to support connected devices, a cloud-based environment to offer integrated home services, and a solution that allows enterprises to purchase connectivity from service providers in a wholesale mode. Additionally, the company offers mobile financial services, and big data management and analytics products; and entertainment and media solutions that enable the management of media and advertising selling, fulfillment, operations, advertiser and consumer experience, and financial processes in digital and print media, as well as Amdocs Optima, a converged multi-tenant digital customer management and commerce platform. It also provides thought leadership and advisory, systems integration, transformation, managed, digital business operations for order to activation, order gateway, testing, revenue guard, and network services; and Amdocs Academy, a cloud-based learning portal. The company was founded in 1988 and is headquartered in Chesterfield, Missouri.

FINANCIAL RATIOS  of  Amdocs (DOX)

Valuation Ratios
P/E Ratio 22.5
Price to Sales 2.5
Price to Book 2.7
Price to Tangible Book
Price to Cash Flow 14.8
Price to Free Cash Flow 18.8
Growth Rates
Sales Growth Rate 2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 7.4%
Cap. Spend. - 3 Yr. Gr. Rate 4%
Financial Strength
Quick Ratio 5
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 5.8%
Interest Coverage 486
Management Effectiveness
Return On Assets 7.7%
Ret/ On Assets - 3 Yr. Avg. 8.2%
Return On Total Capital 11.2%
Ret/ On T. Cap. - 3 Yr. Avg. 11.8%
Return On Equity 11.9%
Return On Equity - 3 Yr. Avg. 12.6%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 35.2%
Gross Margin - 3 Yr. Avg. 35.3%
EBITDA Margin 18.8%
EBITDA Margin - 3 Yr. Avg. 18.7%
Operating Margin 13%
Oper. Margin - 3 Yr. Avg. 13.7%
Pre-Tax Margin 13%
Pre-Tax Margin - 3 Yr. Avg. 13.6%
Net Profit Margin 11%
Net Profit Margin - 3 Yr. Avg. 11.7%
Effective Tax Rate 15.7%
Eff/ Tax Rate - 3 Yr. Avg. 14.2%
Payout Ratio 26.7%

DOX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DOX stock intrinsic value calculation we used $3718 million for the last fiscal year's total revenue generated by Amdocs. The default revenue input number comes from 2016 income statement of Amdocs. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DOX stock valuation model: a) initial revenue growth rate of 4.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for DOX is calculated based on our internal credit rating of Amdocs, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Amdocs.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DOX stock the variable cost ratio is equal to 85.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for DOX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Amdocs.

Corporate tax rate of 27% is the nominal tax rate for Amdocs. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DOX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DOX are equal to 15.8%.

Life of production assets of 12.8 years is the average useful life of capital assets used in Amdocs operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DOX is equal to -4.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3454 million for Amdocs - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 146.421 million for Amdocs is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Amdocs at the current share price and the inputted number of shares is $9.2 billion.

RELATED COMPANIES Price Int.Val. Rating
NOK Nokia ADR 6.25 8.49  buy
CSGS CSG Systems In 38.54 50.39  buy
ERIC Ericsson ADR 6.00 6.29  hold
ORCL Oracle 48.55 53.68  hold
EVOL Evolving Syste 4.75 6.23  buy
MNDO MIND C.T.I. 2.44 4.15  str.buy
CSCO Cisco Systems 31.04 41.04  buy
APPS Digital Turbin 1.20 0.02  str.sell
SNCR Synchronoss Te 16.48 9.77  sell

COMPANY NEWS

▶ ETFs with exposure to Amdocs Ltd. : August 8, 2017   [Aug-08-17 04:21PM  Capital Cube]
▶ Amdocs beats 3Q profit forecasts   [Aug-02-17 10:58PM  Associated Press]
▶ Amdocs Ltd. Value Analysis (NASDAQ:DOX) : July 10, 2017   [Jul-10-17 03:55PM  Capital Cube]
▶ Amdocs Looks Attractive on Any Pullback   [May-18-17 08:31AM  TheStreet.com]
▶ Amdocs beats Street 2Q forecasts   [May-09-17 06:20PM  Associated Press]
▶ Amdocs Ltd. Value Analysis (NASDAQ:DOX) : May 4, 2017   [May-04-17 04:41PM  Capital Cube]
▶ Orange Polska Collaborates with Amdocs on ECOMP Platform   [Jan-30-17 07:00AM  GlobeNewswire]
▶ Amdocs Limited Files Fiscal 2016 Annual Report   [Dec-12-16 05:01PM  GlobeNewswire]
▶ Do Hedge Funds Love Michael Kors Holdings Ltd (KORS)?   [Nov-26-16 06:00AM  at Insider Monkey]
▶ Kitsap-based LumiThera to commercialize device to stop vision loss   [Oct-27-16 05:30PM  at bizjournals.com]
▶ How one investor is playing Amdocs   [08:45AM  optionMONSTER]
Stock chart of DOX Financial statements of DOX
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.