Amdocs (NASDAQ:DOX) Downgraded to Buy Rating by StockNews.com

Amdocs (NASDAQ:DOX) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective on the stock. Oppenheimer upped their target price on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Barclays reduced their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Stock Performance

Shares of NASDAQ:DOX traded down $2.04 during mid-day trading on Thursday, reaching $85.71. 1,198,354 shares of the company traded hands, compared to its average volume of 681,957. Amdocs has a 52 week low of $74.41 and a 52 week high of $94.04. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $10.07 billion, a PE ratio of 20.21, a PEG ratio of 1.50 and a beta of 0.74. The company’s 50 day moving average price is $88.18 and its 200-day moving average price is $83.94.

Institutional Investors Weigh In On Amdocs

Several institutional investors and hedge funds have recently added to or reduced their stakes in DOX. State Board of Administration of Florida Retirement System grew its holdings 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 purchasing an additional 12,178 shares during the last quarter. Boston Trust Walden Corp lifted its position in shares of Amdocs by 17.0% in the second quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock valued at $48,803,000 after buying an additional 89,726 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Amdocs by 402.4% during the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock worth $12,230,000 after purchasing an additional 124,122 shares during the last quarter. Sargent Investment Group LLC acquired a new position in Amdocs in the 2nd quarter valued at $289,000. Finally, Acadian Asset Management LLC grew its position in shares of Amdocs by 22.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,395,894 shares of the technology company’s stock valued at $126,119,000 after buying an additional 258,343 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.