Amdocs (NASDAQ:DOX) Price Target Raised to $105.00

Amdocs (NASDAQ:DOX - Get Free Report) had its price target boosted by stock analysts at Oppenheimer from $98.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Oppenheimer's price target would suggest a potential upside of 19.66% from the company's current price.

DOX has been the subject of a number of other reports. Stifel Nicolaus initiated coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 price objective for the company. StockNews.com raised shares of Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $102.50.

Amdocs Stock Down 5.4 %

NASDAQ DOX traded down $4.96 during trading hours on Wednesday, hitting $87.75. The company had a trading volume of 3,115,841 shares, compared to its average volume of 679,222. Amdocs has a fifty-two week low of $74.41 and a fifty-two week high of $94.04. The company has a market capitalization of $10.31 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.50 and a beta of 0.74. 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 firm's 50 day moving average is $88.16 and its 200 day moving average is $83.92.

Hedge Funds Weigh In On Amdocs

Large investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its stake 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 increased its stake 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 increased its stake 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 acquired a new stake in shares of Amdocs in the second quarter valued at approximately $289,000. Finally, Acadian Asset Management LLC increased its stake 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. Institutional investors 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.