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

Amdocs (NASDAQ:DOX) had its price objective lowered by stock analysts at Citigroup from $105.00 to $100.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price suggests a potential upside of 22.40% from the stock’s previous close.

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

Amdocs Stock Down 4.9 %

Amdocs stock traded down $4.21 during midday trading on Thursday, reaching $81.70. The company’s stock had a trading volume of 2,231,364 shares, compared to its average volume of 677,775. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.21. Amdocs has a fifty-two week low of $78.38 and a fifty-two week high of $99.75. The company has a market cap 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. The business has a 50-day simple moving average of $88.59 and a 200-day simple moving average of $87.52.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC raised its stake in shares of Amdocs by 0.4% in the first quarter. Pzena Investment Management LLC now owns 4,254,777 shares of the technology company’s stock valued at $384,504,000 after purchasing an additional 15,264 shares in the last quarter. Invesco Ltd. grew its stake in shares of Amdocs by 31.0% in the 3rd quarter. Invesco Ltd. now owns 2,629,346 shares of the technology company’s stock valued at $222,153,000 after purchasing an additional 621,962 shares during the period. Nordea Investment Management AB grew its stake in shares of Amdocs by 1.9% in the 3rd quarter. Nordea Investment Management AB now owns 2,109,185 shares of the technology company’s stock valued at $180,905,000 after purchasing an additional 38,452 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Amdocs by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,007,777 shares of the technology company’s stock valued at $176,464,000 after purchasing an additional 94,856 shares during the period. Finally, American Century Companies Inc. raised its stake in Amdocs by 6.2% during the third quarter. American Century Companies Inc. now owns 1,980,219 shares of the technology company’s stock worth $167,309,000 after acquiring an additional 115,744 shares in the last quarter. 92.02% of the stock is owned by institutional investors.

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.