Amdocs (NASDAQ:DOX) Given New $111.00 Price Target at Barclays

Amdocs (NASDAQ:DOX) had its price target decreased by equities research analysts at Barclays from $113.00 to $111.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective indicates a potential upside of 32.17% from the company’s current price.

A number of other analysts have also recently weighed in on DOX. Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target on the stock. Oppenheimer raised their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Stock Down 2.0 %

DOX stock opened at $83.98 on Thursday. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company’s 50 day moving average price is $88.18 and its 200 day moving average price is $83.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.42 and a beta of 0.74.

Hedge Funds Weigh In On Amdocs

A number of institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. boosted its stake in Amdocs by 1.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock worth $516,000 after purchasing an additional 109 shares during the period. Private Trust Co. NA boosted its stake in shares of Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after buying an additional 117 shares during the period. Natixis Advisors LLC grew its holdings in shares of Amdocs by 0.4% during the second quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock worth $2,150,000 after buying an additional 120 shares during the last quarter. Raymond James Trust N.A. grew its holdings in shares of Amdocs by 2.3% during the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock worth $457,000 after buying an additional 129 shares during the last quarter. Finally, Morton Community Bank increased its position in Amdocs by 0.4% in the 3rd quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock valued at $3,185,000 after acquiring an additional 130 shares during the period. 92.02% of the stock is owned by institutional investors and hedge funds.

Amdocs Company Profile

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.