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

Amdocs (NASDAQ:DOX) had its price objective lifted by analysts at Oppenheimer from $98.00 to $105.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would suggest a potential upside of 23.85% from the stock’s current price.

Several other equities research analysts also recently commented on the company. StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. Stifel Nicolaus assumed coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amdocs presently has a consensus rating of “Buy” and an average target price of $102.50.

Amdocs Trading Down 8.6 %

Shares of Amdocs stock traded down $7.93 during trading hours on Wednesday, reaching $84.78. The stock had a trading volume of 512,902 shares, compared to its average volume of 667,391. The firm has a 50 day simple moving average of $88.04 and a two-hundred day simple moving average of $83.86. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.50 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04.

Amdocs (NASDAQ:DOX) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.01. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.27 billion. Amdocs had a return on equity of 17.89% and a net margin of 10.21%. As a group, equities research analysts anticipate that Amdocs will post 5.67 earnings per share for the current year.

Institutional Investors Weigh In On Amdocs

Hedge funds have recently bought and sold shares of the business. Avantax Advisory Services Inc. grew its position in shares of Amdocs by 15.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,839 shares of the technology company’s stock worth $708,000 after acquiring an additional 1,024 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Amdocs by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 4,993 shares of the technology company’s stock worth $451,000 after buying an additional 191 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of 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 in the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of 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 buying an additional 1,451 shares in the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in shares of Amdocs in the 1st quarter worth $202,000. 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.