Amdocs (NASDAQ:DOX) Given New $105.00 Price Target at Oppenheimer

Amdocs (NASDAQ:DOX) had its target price boosted by Oppenheimer from $98.00 to $105.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price target for the company. One 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $101.83.

Amdocs Price Performance

NASDAQ:DOX traded down $1.31 during trading hours on Wednesday, hitting $86.44. 95,033 shares of the company’s stock traded hands, compared to its average volume of 676,475. The firm has a market cap of $10.16 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.50 and a beta of 0.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $88.16 and its two-hundred day simple moving average is $83.92. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04.

Institutional Investors Weigh In On Amdocs

A number of hedge funds have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System boosted its holdings in Amdocs by 7.9% during the 1st 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 acquiring an additional 12,178 shares during the period. Boston Trust Walden Corp grew its holdings 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 worth $48,803,000 after purchasing an additional 89,726 shares during the last quarter. SG Americas Securities LLC grew its holdings 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 worth $12,230,000 after purchasing an additional 124,122 shares during the last quarter. Sargent Investment Group LLC purchased a new position in shares of Amdocs in the second quarter worth $289,000. Finally, Acadian Asset Management LLC raised its holdings in Amdocs by 22.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after buying an additional 258,343 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.

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.