Amdocs (NASDAQ:DOX) Downgraded to “Buy” Rating by StockNews.com

Amdocs (NASDAQ:DOX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

A number of other equities research analysts have also recently issued reports on the stock. Barclays dropped their target price 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. 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. Finally, Oppenheimer raised their price objective on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.20.

Amdocs Trading Up 1.7 %

Shares of Amdocs stock opened at $83.57 on Tuesday. The stock has a market capitalization of $9.82 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.46 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $86.58 and a 200 day simple moving average of $85.75. Amdocs has a 12-month low of $74.41 and a 12-month high of $94.04.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DOX. William Blair Investment Management LLC boosted its stake in Amdocs by 12.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,603 shares of the technology company’s stock worth $442,000 after acquiring an additional 610 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Amdocs by 6.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 469,946 shares of the technology company’s stock worth $37,088,000 after acquiring an additional 29,560 shares during the last quarter. Sierra Summit Advisors LLC boosted its stake in Amdocs by 8.5% during the 2nd quarter. Sierra Summit Advisors LLC now owns 4,323 shares of the technology company’s stock worth $341,000 after acquiring an additional 339 shares during the last quarter. Edgestream Partners L.P. bought a new position in Amdocs during the 2nd quarter worth approximately $1,542,000. Finally, Sargent Investment Group LLC bought a new position in Amdocs during the 2nd quarter worth approximately $289,000. Institutional investors own 92.02% of the company’s stock.

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.