Amdocs (NASDAQ:DOX) Rating Lowered to Buy at StockNews.com

Amdocs (NASDAQ:DOX - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Tuesday.

Other research analysts have also recently issued reports about the company. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 target price on the stock. Barclays dropped their price target on shares of Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Finally, Oppenheimer upped their price objective on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Amdocs currently has a consensus rating of "Moderate Buy" and an average price target of $101.20.

Amdocs Price Performance

Shares of NASDAQ:DOX traded up $0.33 during trading on Tuesday, reaching $83.90. The stock had a trading volume of 172,989 shares, compared to its average volume of 525,012. The business has a fifty day moving average price of $86.58 and a 200-day moving average price of $85.75. 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 quick ratio of 1.24 and a current ratio of 1.20. The stock has a market cap of $9.86 billion, a PE ratio of 19.79, a PEG ratio of 1.46 and a beta of 0.72.

Institutional Investors Weigh In On Amdocs

Several hedge funds have recently made changes to their positions in DOX. Private Trust Co. NA increased its stake in 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 buying an additional 117 shares during the period. Brooklyn Investment Group acquired a new position in shares of Amdocs during the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new position in Amdocs during the third quarter worth about $55,000. GAMMA Investing LLC raised its holdings in Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company's stock worth $70,000 after purchasing an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Amdocs in the third quarter valued at about $77,000. Institutional investors and hedge funds own 92.02% of the company's stock.

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.