Amdocs (NASDAQ:DOX) Given New $105.00 Price Target at Oppenheimer

Amdocs (NASDAQ:DOX) had its price objective raised by Oppenheimer from $98.00 to $105.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

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

Amdocs Price Performance

Amdocs stock opened at $83.98 on Wednesday. The stock’s 50 day moving average price is $88.16 and its two-hundred day moving average price is $83.95. The stock 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. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24. Amdocs has a 52-week low of $74.41 and a 52-week high of $94.04.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs’s dividend payout ratio (DPR) is 45.05%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Private Trust Co. NA lifted 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 bought a new position in shares of Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs during the third quarter valued at approximately $55,000. GAMMA Investing LLC boosted its position in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Amdocs in the 3rd quarter valued at $77,000. 92.02% of the stock is currently 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.