Amdocs (NASDAQ:DOX) Rating Lowered to Buy at StockNews.com

Amdocs (NASDAQ:DOX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

A number of other research analysts also recently weighed in on DOX. Oppenheimer raised their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays dropped their price target on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Amdocs presently has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Stock Performance

DOX opened at $83.98 on Thursday. 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 company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 0.74. The business’s 50-day moving average price is $88.18 and its two-hundred day moving average price is $83.96. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04.

Hedge Funds Weigh In On Amdocs

Large investors have recently bought and sold shares of the company. Private Trust Co. NA grew its position in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group bought a new stake in Amdocs in the third quarter valued at approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in Amdocs during the 3rd quarter valued at approximately $55,000. GAMMA Investing LLC raised its holdings in Amdocs by 115.1% during the 3rd quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after purchasing an additional 428 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Amdocs during the 3rd quarter worth approximately $77,000. 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.