Amdocs (NASDAQ:DOX) Coverage Initiated at Stifel Nicolaus

by · The Cerbat Gem

Equities research analysts at Stifel Nicolaus initiated coverage on shares of Amdocs (NASDAQ:DOX – Get Free Report) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $100.00 price target on the technology company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 13.43% from the stock’s current price.

Separately, StockNews.com raised shares of Amdocs from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.00.

Read Our Latest Research Report on DOX

Amdocs Trading Up 0.1 %

Shares of DOX stock opened at $88.16 on Wednesday. The firm has a fifty day moving average of $85.57 and a 200-day moving average of $83.73. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.54 and a beta of 0.74. Amdocs has a 52-week low of $74.41 and a 52-week high of $94.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.24 and a current ratio of 1.24.

Amdocs (NASDAQ:DOX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Amdocs had a net margin of 10.21% and a return on equity of 17.89%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. On average, equities research analysts forecast that Amdocs will post 5.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amdocs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norwood Financial Corp bought a new stake in shares of Amdocs during the first quarter worth $33,000. Central Pacific Bank Trust Division bought a new stake in Amdocs during the 1st quarter worth about $53,000. Riverview Trust Co bought a new stake in Amdocs during the 1st quarter worth about $55,000. Quarry LP lifted its position in Amdocs by 168.9% during the 4th quarter. Quarry LP now owns 656 shares of the technology company’s stock valued at $58,000 after purchasing an additional 412 shares during the period. Finally, American National Bank bought a new position in shares of Amdocs in the 2nd quarter valued at about $76,000. Institutional investors and hedge funds own 92.02% of the company’s stock.

About Amdocs

(Get Free Report)

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.

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