Amdocs (NASDAQ:DOX) Stock Price Expected to Rise, Oppenheimer Analyst Says

Amdocs (NASDAQ:DOX) had its target price upped by Oppenheimer from $98.00 to $105.00 in a report released on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

Several other brokerages have also issued reports on DOX. Stifel Nicolaus began coverage on Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. StockNews.com upgraded shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Price Performance

Shares of NASDAQ DOX opened at $83.98 on Wednesday. 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 company has a market capitalization of $9.87 billion, a PE ratio of 19.81, a PEG ratio of 1.42 and a beta of 0.74. The stock’s 50 day moving average price is $88.16 and its 200-day moving average price is $83.95. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04.

Amdocs Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. Amdocs’s dividend payout ratio is presently 45.05%.

Institutional Investors Weigh In On Amdocs

Several large investors have recently added to or reduced their stakes in DOX. Private Trust Co. NA lifted its holdings in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of Amdocs in the third quarter valued at approximately $55,000. GAMMA Investing LLC lifted its stake in shares of Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Amdocs in the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

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.