Stifel Nicolaus Initiates Coverage on Amdocs (NASDAQ:DOX)

Stock analysts at Stifel Nicolaus began coverage on shares of Amdocs (NASDAQ:DOX) in a research note issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $100.00 price target on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 14.44% from the company’s current price.

Separately, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amdocs presently has an average rating of “Buy” and a consensus price target of $102.00.

Amdocs Price Performance

DOX opened at $87.38 on Wednesday. Amdocs has a 1 year low of $74.41 and a 1 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 company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.54 and a beta of 0.74. The firm’s fifty day moving average price is $85.41 and its two-hundred day moving average price is $83.67.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.02. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.41 earnings per share. As a group, analysts anticipate that Amdocs will post 5.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norwood Financial Corp purchased a new stake in Amdocs during the first quarter valued at about $33,000. Central Pacific Bank Trust Division bought a new position in shares of Amdocs during the 1st quarter valued at $53,000. Riverview Trust Co purchased a new position in Amdocs in the 1st quarter worth $55,000. Quarry LP lifted its stake in Amdocs by 168.9% in the fourth quarter. Quarry LP now owns 656 shares of the technology company’s stock worth $58,000 after purchasing an additional 412 shares during the last quarter. Finally, American National Bank purchased a new stake in Amdocs during the second quarter valued at about $76,000. 92.02% of the stock is currently owned by institutional investors.

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.