Amdocs (NASDAQ:DOX) Price Target Lowered to $97.00 at Stifel Nicolaus

Amdocs (NASDAQ:DOX) had its price objective reduced by equities research analysts at Stifel Nicolaus from $100.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 15.53% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research report on Thursday, October 30th. Wall Street Zen downgraded Amdocs from a “buy” rating to a “hold” rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Amdocs Price Performance

Shares of DOX stock opened at $83.96 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $83.49 and a 200-day simple moving average of $87.48. The company has a market capitalization of $9.48 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Amdocs has a twelve month low of $78.61 and a twelve month high of $95.41.

Hedge Funds Weigh In On Amdocs

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its position in Amdocs by 13.2% in the first quarter. Allworth Financial LP now owns 1,829 shares of the technology company’s stock worth $157,000 after buying an additional 213 shares during the last quarter. Xponance Inc. grew its position in Amdocs by 6.0% during the first quarter. Xponance Inc. now owns 5,339 shares of the technology company’s stock valued at $489,000 after purchasing an additional 300 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of Amdocs during the first quarter worth $39,000. Verdence Capital Advisors LLC lifted its holdings in shares of Amdocs by 45.4% during the 1st quarter. Verdence Capital Advisors LLC now owns 6,424 shares of the technology company’s stock valued at $588,000 after buying an additional 2,006 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Amdocs during the 1st quarter worth $2,890,000. Institutional investors and hedge funds 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.