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

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

A number of other equities analysts also recently commented on DOX. Stifel Nicolaus began coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. Oppenheimer raised their price target on Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.83.

Amdocs Stock Performance

Shares of DOX stock opened at $83.98 on Thursday. Amdocs has a 12 month low of $74.41 and a 12 month high of $94.04. The company’s fifty day simple moving average is $88.16 and its 200-day simple moving average is $83.95. The firm has a market cap of $9.87 billion, a PE ratio of 19.81, a P/E/G ratio of 1.42 and a beta of 0.74. 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. Shareholders of record on Tuesday, December 31st will be paid a $0.479 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.92 annualized dividend and a yield of 2.28%. Amdocs’s dividend payout ratio is 45.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DOX. State Board of Administration of Florida Retirement System lifted its holdings in Amdocs by 7.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 166,927 shares of the technology company’s stock valued at $16,030,000 after purchasing an additional 12,178 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Amdocs by 17.0% during the 2nd quarter. Boston Trust Walden Corp now owns 618,387 shares of the technology company’s stock worth $48,803,000 after buying an additional 89,726 shares during the period. SG Americas Securities LLC grew its stake in Amdocs by 402.4% in the 2nd quarter. SG Americas Securities LLC now owns 154,968 shares of the technology company’s stock valued at $12,230,000 after buying an additional 124,122 shares during the last quarter. Sargent Investment Group LLC bought a new position in Amdocs in the 2nd quarter valued at about $289,000. Finally, Acadian Asset Management LLC raised its holdings in 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 acquiring an additional 258,343 shares during the period. 92.02% of the stock is currently owned by institutional investors.

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.