Amdocs (NASDAQ:DOX) Stock Rating Lowered by StockNews.com

Amdocs (NASDAQ:DOX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

A number of other research firms have also commented on DOX. Barclays reduced their price target on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday. Oppenheimer boosted their target price on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Stock Performance

Amdocs stock opened at $83.98 on Thursday. The firm has a market capitalization of $9.87 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 0.74. The stock has a fifty day moving average price of $88.18 and a two-hundred day moving average price of $83.96. Amdocs has a 52-week low of $74.41 and a 52-week 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Private Trust Co. NA increased its stake in shares of 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 during the last quarter. Brooklyn Investment Group acquired a new stake in Amdocs in the third quarter worth $28,000. Catalyst Capital Advisors LLC bought a new position in shares of Amdocs during the third quarter worth $55,000. GAMMA Investing LLC grew its holdings in shares of Amdocs by 115.1% in the 3rd 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 period. Finally, American National Bank acquired a new stake in Amdocs during the 2nd quarter worth $76,000. 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.