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

Amdocs (NASDAQ:DOX) had its target price dropped by research analysts at Stifel Nicolaus from $100.00 to $97.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 15.53% from the company’s current price.

Several other brokerages have also recently weighed in on DOX. Wall Street Zen cut shares of Amdocs from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research note on Thursday, October 30th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Amdocs Stock Performance

NASDAQ DOX opened at $83.96 on Wednesday. Amdocs has a twelve month low of $78.61 and a twelve month high of $95.41. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $83.49 and its 200 day simple moving average is $87.48. The stock has a market cap of $9.48 billion, a P/E ratio of 17.03, a PEG ratio of 1.40 and a beta of 0.51.

Hedge Funds Weigh In On Amdocs

A number of institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Amdocs by 13.2% during the 1st quarter. Allworth Financial LP now owns 1,829 shares of the technology company’s stock worth $157,000 after purchasing an additional 213 shares during the last quarter. Xponance Inc. grew its holdings in Amdocs by 6.0% in the 1st quarter. Xponance Inc. now owns 5,339 shares of the technology company’s stock valued at $489,000 after buying an additional 300 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Amdocs during the first quarter worth about $39,000. Verdence Capital Advisors LLC raised its position in shares of Amdocs by 45.4% in the first quarter. Verdence Capital Advisors LLC now owns 6,424 shares of the technology company’s stock valued at $588,000 after buying an additional 2,006 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Amdocs during the 1st quarter valued at $2,890,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.