Barclays Has Lowered Expectations for Amdocs (NASDAQ:DOX) Stock Price

Amdocs (NASDAQ:DOX) had its price objective trimmed by Barclays from $113.00 to $111.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

DOX has been the topic of a number of other reports. Oppenheimer increased their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus started coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Finally, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Amdocs has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded down $1.73 during midday trading on Thursday, reaching $83.98. The company’s stock had a trading volume of 943,960 shares, compared to its average volume of 682,107. The firm has a market capitalization of $9.87 billion, a PE ratio of 20.21, a P/E/G ratio of 1.42 and a beta of 0.74. Amdocs has a twelve month low of $74.41 and a twelve month high of $94.04. The stock has a fifty day moving average of $88.18 and a 200 day moving average of $83.94. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21.

Amdocs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.479 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DOX. 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 acquired a new position in Amdocs in the third quarter valued at $28,000. Catalyst Capital Advisors LLC purchased a new position in shares of Amdocs during the third quarter worth about $55,000. GAMMA Investing LLC increased its position in shares of Amdocs by 115.1% during the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock worth $70,000 after purchasing an additional 428 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Amdocs in the 3rd quarter valued at about $77,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

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.