Barclays Lowers Amdocs (NASDAQ:DOX) Price Target to $111.00

Amdocs (NASDAQ:DOX - Get Free Report) had its price target dropped by investment analysts at Barclays from $113.00 to $111.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Barclays's price objective would suggest a potential upside of 29.51% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus started coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a "buy" rating and a $100.00 price target on the stock. StockNews.com upgraded Amdocs from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 25th. Finally, Oppenheimer raised their price target on Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Amdocs presently has an average rating of "Buy" and a consensus target price of $101.83.

Amdocs Price Performance

NASDAQ:DOX traded down $2.04 during mid-day trading on Thursday, reaching $85.71. 1,281,615 shares of the stock were exchanged, compared to its average volume of 681,948. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $10.07 billion, a PE ratio of 20.37, a PEG ratio of 1.50 and a beta of 0.74. The business has a fifty day moving average price of $88.18 and a 200 day moving average price of $83.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DOX. Avantax Advisory Services Inc. grew its position in Amdocs by 15.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,839 shares of the technology company's stock valued at $708,000 after purchasing an additional 1,024 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Amdocs by 7.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company's stock worth $16,030,000 after buying an additional 12,178 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in Amdocs by 4.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,594 shares of the technology company's stock worth $2,946,000 after purchasing an additional 1,451 shares in the last quarter. Councilmark Asset Management LLC purchased a new position in Amdocs during the first quarter valued at $202,000. Finally, Vanguard Group Inc. grew its holdings in Amdocs by 39.5% during the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company's stock valued at $183,771,000 after buying an additional 576,168 shares in the last quarter. 92.02% of the stock is 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.