Amdocs (NASDAQ:DOX) PT Lowered to $90.00

Amdocs (NASDAQ:DOX) had its target price decreased by research analysts at Robert W. Baird from $97.00 to $90.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 4.76% from the company’s current price.

A number of other analysts have also recently issued reports on DOX. Citigroup increased their price objective on shares of Amdocs from $96.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a report on Friday, March 15th. Finally, Barclays upped their price objective on Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

Amdocs Price Performance

Shares of NASDAQ:DOX opened at $85.91 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $10.10 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.36 and a beta of 0.70. The firm’s 50 day moving average price is $88.59 and its 200-day moving average price is $87.52. Amdocs has a twelve month low of $78.38 and a twelve month high of $99.75.

Amdocs (NASDAQ:DOX) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.16. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.24 billion. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $1.33 earnings per share. Equities research analysts expect that Amdocs will post 5.87 EPS for the current year.

Hedge Funds Weigh In On Amdocs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. raised its position in shares of Amdocs by 1.3% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 9,790 shares of the technology company’s stock valued at $860,000 after buying an additional 130 shares in the last quarter. New York State Teachers Retirement System raised its position in Amdocs by 1.3% during the first quarter. New York State Teachers Retirement System now owns 10,719 shares of the technology company’s stock valued at $969,000 after purchasing an additional 141 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Amdocs by 6.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,448 shares of the technology company’s stock valued at $207,000 after purchasing an additional 145 shares during the last quarter. CI Investments Inc. boosted its holdings in shares of Amdocs by 0.7% in the 3rd quarter. CI Investments Inc. now owns 21,000 shares of the technology company’s stock worth $1,774,000 after purchasing an additional 152 shares during the period. Finally, Balentine LLC raised its holdings in Amdocs by 5.3% during the 3rd quarter. Balentine LLC now owns 3,050 shares of the technology company’s stock valued at $258,000 after buying an additional 153 shares during the period. 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.