Amdocs (NASDAQ:DOX) Price Target Cut to $111.00 by Analysts at Barclays

Amdocs (NASDAQ:DOX) had its price objective reduced by investment analysts at Barclays from $113.00 to $111.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 26.50% from the company’s current price.

Several other analysts have also recently weighed in on DOX. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th. Oppenheimer lifted their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Stifel Nicolaus began coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $101.83.

Amdocs Stock Down 5.4 %

Shares of NASDAQ DOX opened at $87.75 on Thursday. The firm has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $83.92. The firm has a market capitalization of $10.31 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04.

Hedge Funds Weigh In On Amdocs

Several large investors have recently modified their holdings of DOX. Northwest & Ethical Investments L.P. raised its holdings in Amdocs by 10.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 176,035 shares of the technology company’s stock worth $15,400,000 after acquiring an additional 16,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Amdocs by 1,207.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,701 shares of the technology company’s stock worth $23,768,000 after purchasing an additional 250,918 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of Amdocs by 11.3% in the 3rd quarter. Financial Counselors Inc. now owns 4,535 shares of the technology company’s stock worth $397,000 after purchasing an additional 459 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Amdocs in the third quarter worth $131,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Amdocs by 18.3% during the third quarter. Glenmede Trust Co. NA now owns 157,780 shares of the technology company’s stock valued at $13,803,000 after purchasing an additional 24,442 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

About Amdocs

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.