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

Amdocs (NASDAQ:DOX) had its price target reduced by Barclays from $113.00 to $111.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. Oppenheimer upped their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Stifel Nicolaus initiated coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Price Performance

Shares of NASDAQ DOX traded down $1.73 during mid-day trading on Thursday, reaching $83.98. 943,960 shares of the company were exchanged, compared to its average volume of 682,107. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. 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 stock has a market capitalization of $9.87 billion, a PE ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74. The company’s 50 day moving average price is $88.18 and its 200 day moving average price is $83.94.

Amdocs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 2.28%. Amdocs’s payout ratio is 45.28%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its stake in shares of Amdocs by 15.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,839 shares of the technology company’s stock worth $708,000 after acquiring an additional 1,024 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Amdocs by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock worth $16,030,000 after acquiring an additional 12,178 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Amdocs by 4.7% during the 1st quarter. Orion Portfolio Solutions LLC now owns 32,594 shares of the technology company’s stock worth $2,946,000 after acquiring an additional 1,451 shares in the last quarter. Councilmark Asset Management LLC bought a new position in shares of Amdocs during the 1st quarter worth approximately $202,000. Finally, Vanguard Group Inc. raised its stake in shares of Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after acquiring an additional 576,168 shares in the last quarter. 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.