Amdocs Limited (NASDAQ:DOX – Get Free Report)’s share price gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $105.00 to $100.00. The stock had previously closed at $85.91, but opened at $82.01. Citigroup currently has a buy rating on the stock. Amdocs shares last traded at $79.87, with a volume of 76,705 shares trading hands.
DOX has been the subject of a number of other research reports. Robert W. Baird lowered their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday. Barclays increased their target price on shares of Amdocs from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, StockNews.com lowered shares of Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Amdocs has an average rating of “Moderate Buy” and a consensus target price of $104.83.
Hedge Funds Weigh In On Amdocs
Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Amdocs by 1.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,962,197 shares of the technology company’s stock valued at $419,256,000 after acquiring an additional 75,733 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in Amdocs by 0.4% in the first quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock valued at $384,504,000 after purchasing an additional 15,264 shares during the last quarter. Invesco Ltd. grew its position in Amdocs by 31.0% during the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock worth $222,153,000 after purchasing an additional 621,962 shares during the period. Nordea Investment Management AB raised its stake in shares of Amdocs by 1.9% during the 3rd quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock valued at $180,905,000 after buying an additional 38,452 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Amdocs by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock worth $176,464,000 after buying an additional 94,856 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.
Amdocs Stock Performance
The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The firm has a fifty day moving average of $88.40 and a 200 day moving average of $87.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29.
Amdocs (NASDAQ:DOX – Get Free Report) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the business posted $1.33 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Amdocs Limited will post 5.87 earnings per share for the current fiscal year.
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.