Barclays Lowers Amdocs (NASDAQ:DOX) Price Target to $111.00

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

A number of other brokerages also recently commented on DOX. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. Oppenheimer lifted their price target on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus started coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Stock Down 2.0 %

NASDAQ DOX opened at $83.98 on Thursday. The business’s fifty day simple moving average is $88.18 and its 200-day simple moving average is $83.96. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market cap of $9.87 billion, a PE ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 0.74. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04.

Institutional Investors Weigh In On Amdocs

Institutional investors have recently modified their holdings of the company. Private Trust Co. NA grew its position in Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after acquiring an additional 117 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Amdocs during the 3rd quarter worth approximately $55,000. GAMMA Investing LLC increased its stake in Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after buying an additional 428 shares during the period. Finally, American National Bank acquired a new stake in Amdocs during the 2nd quarter worth approximately $76,000. 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.