Amdocs (NASDAQ:DOX) Shares Gap Down – Time to Sell?

Amdocs Limited (NASDAQ:DOX) gapped down prior to trading on Wednesday . The stock had previously closed at $92.71, but opened at $85.30. Amdocs shares last traded at $85.11, with a volume of 517,210 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DOX. Barclays dropped their target price on Amdocs from $113.00 to $111.00 and set an “overweight” rating for the company in a research report on Thursday. Stifel Nicolaus initiated coverage on Amdocs in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 target price for the company. StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Amdocs presently has an average rating of “Moderate Buy” and an average price target of $101.83.

Amdocs Stock Performance

The firm has a 50 day moving average of $88.18 and a two-hundred day moving average of $83.94. The stock 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 has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a yield of 2.24%. The ex-dividend date is Tuesday, December 31st. Amdocs’s payout ratio is 45.28%.

Institutional Investors Weigh In On Amdocs

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in Amdocs by 62.9% during the third quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock worth $27,000 after purchasing an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Amdocs during the third quarter worth approximately $28,000. Catalyst Capital Advisors LLC purchased a new stake in Amdocs during the third quarter worth approximately $55,000. GAMMA Investing LLC lifted its stake in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after buying an additional 428 shares during the last quarter. Finally, American National Bank purchased a new stake in Amdocs in the second quarter valued at approximately $76,000. 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.