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

Amdocs (NASDAQ:DOX) had its target price reduced by Barclays from $113.00 to $111.00 in a research note published on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other research firms have also commented on DOX. Stifel Nicolaus initiated coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.83.

Amdocs Stock Down 2.0 %

Shares of NASDAQ DOX opened at $83.98 on Thursday. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. The firm’s 50-day moving average is $88.16 and its 200-day moving average is $83.95. 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 $9.87 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74.

Amdocs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is presently 45.05%.

Institutional Investors Weigh In On Amdocs

Several large investors have recently modified their holdings of DOX. 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 valued at $708,000 after purchasing an additional 1,024 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Amdocs by 7.9% during the first 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 acquiring an additional 12,178 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Amdocs by 4.7% during the first quarter. Orion Portfolio Solutions LLC now owns 32,594 shares of the technology company’s stock worth $2,946,000 after acquiring an additional 1,451 shares during the period. Councilmark Asset Management LLC bought a new stake in Amdocs in the 1st quarter valued at $202,000. Finally, Vanguard Group Inc. boosted its stake in Amdocs by 39.5% in the 1st quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock worth $183,771,000 after purchasing an additional 576,168 shares during the period. 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.