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

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

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

Amdocs Stock Performance

Shares of Amdocs stock traded down $7.93 during trading hours on Wednesday, hitting $84.78. 512,902 shares of the company were exchanged, compared to its average volume of 667,391. Amdocs has a 1 year low of $74.41 and a 1 year high of $94.04. 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 business has a 50-day moving average of $88.04 and a 200-day moving average of $83.86. The stock 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.

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

Institutional Trading of Amdocs

A number of large investors have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its stake in shares of Amdocs by 12.3% during the third quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock valued at $556,700,000 after acquiring an additional 696,136 shares during the last quarter. LSV Asset Management boosted its stake in shares of Amdocs by 7.9% during the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock valued at $253,109,000 after acquiring an additional 234,096 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Amdocs by 36.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock worth $277,818,000 after buying an additional 851,022 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Amdocs by 31.1% in the 2nd quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after buying an additional 536,359 shares during the last quarter. 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 buying an additional 576,168 shares during the last quarter. 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.