Amdocs (NASDAQ:DOX) Stock Price Expected to Rise, Oppenheimer Analyst Says

Amdocs (NASDAQ:DOX) had its target price lifted by Oppenheimer from $98.00 to $105.00 in a research note published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price objective for the company. StockNews.com raised shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.83.

Amdocs Trading Down 2.0 %

Shares of DOX stock opened at $83.98 on Wednesday. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The firm has a market cap of $9.87 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a 50-day moving average of $88.18 and a two-hundred day moving average of $83.96. 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 company 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. Amdocs’s payout ratio is 45.28%.

Institutional Trading of Amdocs

Several hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its holdings in Amdocs by 1.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock worth $516,000 after buying an additional 109 shares during the last quarter. Private Trust Co. NA grew its position in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the last quarter. Natixis Advisors LLC raised its stake in Amdocs by 0.4% during the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock worth $2,150,000 after acquiring an additional 120 shares in the last quarter. Raymond James Trust N.A. lifted its position in Amdocs by 2.3% in the second quarter. Raymond James Trust N.A. now owns 5,796 shares of the technology company’s stock valued at $457,000 after acquiring an additional 129 shares during the last quarter. Finally, Morton Community Bank increased its position in Amdocs by 0.4% during the third quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock worth $3,185,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

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.