Amdocs (NASDAQ:DOX) Given New $111.00 Price Target at Barclays

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

Several other brokerages have also weighed in on DOX. Oppenheimer lifted their target price on shares of Amdocs from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus initiated coverage on Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective on the stock. Finally, StockNews.com upgraded Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Amdocs currently has an average rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Stock Performance

Shares of NASDAQ DOX opened at $83.98 on Thursday. Amdocs has a one year low of $74.41 and a one year high of $94.04. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $88.16 and a 200 day simple moving average of $83.95. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.39 and a beta of 0.74.

Amdocs Announces Dividend

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 given 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 payout ratio is 45.28%.

Institutional Trading of Amdocs

Several large investors have recently made changes to their positions in DOX. Avantax Advisory Services Inc. increased its holdings in shares of Amdocs by 15.0% in the first quarter. Avantax Advisory Services Inc. now owns 7,839 shares of the technology company’s stock valued at $708,000 after purchasing an additional 1,024 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Amdocs by 7.9% in 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 buying an additional 12,178 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Amdocs by 4.7% in the 1st quarter. Orion Portfolio Solutions LLC now owns 32,594 shares of the technology company’s stock valued at $2,946,000 after buying an additional 1,451 shares during the period. Councilmark Asset Management LLC bought a new stake in shares of Amdocs during the first quarter worth $202,000. Finally, Vanguard Group Inc. lifted its stake in shares of Amdocs by 39.5% during the first quarter. Vanguard Group Inc. now owns 2,033,536 shares of the technology company’s stock valued at $183,771,000 after acquiring an additional 576,168 shares during the period. 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.