Amdocs Limited (NASDAQ:DOX) shares rose on Wednesday after the company announced a 10-year strategic agreement with VEON Ltd. (NASDAQ:VEON) focused on AI-driven technology modernization.
Amdocs will run and continuously modernize VEON’s core technology operations across Eurasia, while helping accelerate its digital operator strategy and provide longer-term cost predictability across IT operations.
DOX Expands AI Role At VEON
The agreement combines technology from QazCode, VEON’s AI company and Beeline Kazakhstan’s exclusive digital partner, with Amdocs aOS, an agentic operating system built for telecommunications.
VEON CEO Kaan Terzioğlu said digital and AI services already account for about 27% of group revenue and continue to grow.
"QazCode has helped us build the technology and talent to bring better digital experiences to the millions of people who rely on us every day, and adopting Amdocs’ aOS capabilities is a natural next step in that journey," Terzioğlu said.
The agreement also expands Amdocs’ presence in Kazakhstan, Uzbekistan and the broader Eurasia region.
"VEON’s trust in Amdocs to lead this journey reflects our shared ambition to shape the next era of the digital operator," said Anthony Goonetilleke, Group President, New Growth Horizons at Amdocs.
DOX Technical Setup Remains Cautious
At $58.90, Amdocs trades 0.7% below its 20-day simple moving average of $59.30 and 0.8% below its 50-day SMA of $59.35.
The stock remains 2.3% above its 100-day SMA of $57.59 but sits 8.6% below its 200-day SMA of $64.48.
The 20-day SMA remains below the 50-day average, while the 50-day SMA is below the 200-day, signaling a bearish longer-term moving-average structure.
RSI stands at 47.16, indicating neutral momentum. DOX has fallen 29.03% over the past 12 months.
Key resistance sits near $64, close to the 200-day SMA and EMA, while support is around $56.50. The 52-week low stands at $49.74.
Amdocs Scores Weak On Momentum And Growth
The Benzinga Edge scorecard shows a mixed setup for Amdocs, with weaker readings in momentum, value, and growth.
Momentum stands at 19.56, while Growth scores 4.82 and Value comes in at 2.81. Quality is stronger at 53.22.
The weak momentum reading aligns with DOX trading below its 200-day moving average, while the low growth score highlights the importance of future earnings execution and revenue acceleration.
ETFs With Notable Amdocs Exposure
Monarch Dividend Plus Index ETF (NASDAQ) has a 3.48% weighting in Amdocs, followed by Brandes US Small-Mid Cap Value ETF (NASDAQ) at 2.99% and Amplify BlueStar Israel Technology ETF (NYSEARCA) at 2.39%.
Stock Price Activity: Amdocs shares were up 1.64% at $59.45, and VEON shares were down 0.05% at $76.38 at the time of publication on Wednesday, according to Benzinga Pro data.
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