Amdocs (NASDAQ:DOX) Price Target Lowered to $111.00 at Barclays

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

Several other equities analysts have also weighed in on the stock. Oppenheimer raised their price objective 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 started coverage on shares of Amdocs in a report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 price target on the stock. Finally, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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 fifty-two week low of $74.41 and a fifty-two week high of $94.04. The stock’s 50-day moving average is $88.16 and its two-hundred day moving average is $83.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. The firm has a market cap of $9.87 billion, a P/E ratio of 19.81, a PEG ratio of 1.39 and a beta of 0.74.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, December 31st. Amdocs’s dividend payout ratio is currently 45.28%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Amdocs by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,625,875 shares of the technology company’s stock valued at $579,632,000 after purchasing an additional 111,357 shares during the last quarter. Pzena Investment Management LLC increased its position in Amdocs by 12.3% in the 3rd quarter. Pzena Investment Management LLC now owns 6,363,739 shares of the technology company’s stock worth $556,700,000 after buying an additional 696,136 shares during the period. LSV Asset Management lifted its holdings in shares of Amdocs by 7.9% during the second quarter. LSV Asset Management now owns 3,207,155 shares of the technology company’s stock worth $253,109,000 after buying an additional 234,096 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Amdocs by 36.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,175,790 shares of the technology company’s stock valued at $277,818,000 after acquiring an additional 851,022 shares during the period. Finally, Brandes Investment Partners LP grew its stake in shares of Amdocs by 31.1% in the second quarter. Brandes Investment Partners LP now owns 2,260,811 shares of the technology company’s stock worth $178,335,000 after acquiring an additional 536,359 shares during the last quarter. Institutional investors 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.