Amdocs (NASDAQ:DOX) Given New $100.00 Price Target at Citigroup

Amdocs (NASDAQ:DOX) had its price objective dropped by research analysts at Citigroup from $105.00 to $100.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 22.40% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Barclays raised their price objective on shares of Amdocs from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Robert W. Baird cut their target price on Amdocs from $97.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, StockNews.com cut Amdocs from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $104.83.

Amdocs Stock Performance

Shares of NASDAQ DOX traded down $4.21 during trading hours on Thursday, hitting $81.70. 2,231,364 shares of the stock were exchanged, compared to its average volume of 677,775. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.29 and a quick ratio of 1.29. Amdocs has a one year low of $78.38 and a one year high of $99.75. The company’s 50 day moving average is $88.59 and its 200 day moving average is $87.52. The firm has a market capitalization of $9.60 billion, a P/E ratio of 17.49, a P/E/G ratio of 1.36 and a beta of 0.70.

Amdocs (NASDAQ:DOX) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.16. Amdocs had a net margin of 11.30% and a return on equity of 17.79%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the firm earned $1.33 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, research analysts expect that Amdocs will post 5.87 EPS for the current year.

Institutional Investors Weigh In On Amdocs

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Amdocs during the 4th quarter valued at $25,000. Oakworth Capital Inc. bought a new stake in Amdocs during the 4th quarter worth approximately $26,000. Operose Advisors LLC raised its holdings in shares of Amdocs by 148.0% during the third quarter. Operose Advisors LLC now owns 310 shares of the technology company’s stock worth $26,000 after acquiring an additional 185 shares during the period. Norwood Financial Corp acquired a new stake in Amdocs in the 1st quarter valued at approximately $33,000. Finally, VisionPoint Advisory Group LLC raised its holdings in shares of Amdocs by 77.7% in the third quarter. VisionPoint Advisory Group LLC now owns 503 shares of the technology company’s stock valued at $42,000 after purchasing an additional 220 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.