Amdocs (NASDAQ:DOX) Upgraded at StockNews.com

Amdocs (NASDAQ:DOX) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

A number of other equities analysts also recently commented on the stock. Barclays reduced their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus started coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Amdocs presently has a consensus rating of “Buy” and a consensus target price of $101.20.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded up $0.30 during trading on Monday, hitting $84.47. 447,688 shares of the stock were exchanged, compared to its average volume of 486,263. The company’s fifty day simple moving average is $87.03 and its 200-day simple moving average is $85.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.20. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its position in Amdocs by 8.3% in the 4th quarter. Nordea Investment Management AB now owns 1,656,055 shares of the technology company’s stock valued at $141,112,000 after acquiring an additional 127,426 shares in the last quarter. Dudley & Shanley Inc. increased its holdings in shares of Amdocs by 7.6% in the third quarter. Dudley & Shanley Inc. now owns 261,826 shares of the technology company’s stock valued at $22,905,000 after purchasing an additional 18,600 shares in the last quarter. Principal Financial Group Inc. raised its position in Amdocs by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,032,867 shares of the technology company’s stock worth $90,355,000 after purchasing an additional 63,718 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Amdocs by 71.6% during the 3rd quarter. Franklin Resources Inc. now owns 152,230 shares of the technology company’s stock worth $13,580,000 after buying an additional 63,527 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in Amdocs by 2.6% in the 3rd quarter. Tidal Investments LLC now owns 113,671 shares of the technology company’s stock valued at $9,944,000 after buying an additional 2,885 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

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.