Oppenheimer Raises Amdocs (NASDAQ:DOX) Price Target to $105.00

Amdocs (NASDAQ:DOX) had its price objective lifted by Oppenheimer from $98.00 to $105.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 23.25% from the company’s previous close.

Several other equities research analysts have also recently weighed in on DOX. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. Stifel Nicolaus assumed coverage on Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Price Performance

Shares of DOX stock traded down $0.52 during trading hours on Wednesday, hitting $85.19. The stock had a trading volume of 29,340 shares, compared to its average volume of 679,017. Amdocs has a one year low of $74.41 and a one year high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average price is $88.18 and its two-hundred day moving average price is $83.94. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.74.

Institutional Trading of Amdocs

Large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Amdocs by 7.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock valued at $16,030,000 after purchasing an additional 12,178 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Amdocs by 17.0% in the second quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after purchasing an additional 89,726 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Amdocs by 402.4% in the second quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock valued at $12,230,000 after purchasing an additional 124,122 shares during the period. Sargent Investment Group LLC purchased a new stake in shares of Amdocs in the second quarter valued at approximately $289,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Amdocs by 22.7% in the first quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after purchasing an additional 258,343 shares during the period. 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.