Amdocs (NASDAQ:DOX) Price Target Cut to $97.00 by Analysts at Bank of America

Amdocs (NASDAQ:DOX) had its price target reduced by equities research analysts at Bank of America from $100.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 15.53% from the company’s current price.

A number of other equities research analysts have also recently weighed in on DOX. Wall Street Zen cut Amdocs from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Amdocs in a report on Thursday, October 30th. Finally, Stifel Nicolaus lowered their target price on Amdocs from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Amdocs presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Amdocs Stock Performance

NASDAQ DOX opened at $83.96 on Wednesday. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 1.40 and a beta of 0.51. The company has a 50 day moving average of $83.49 and a 200-day moving average of $87.48. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. Amdocs has a 1-year low of $78.61 and a 1-year high of $95.41.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quarry LP grew its stake in shares of Amdocs by 42.2% during the first quarter. Quarry LP now owns 391 shares of the technology company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Alhambra Investment Management LLC boosted its holdings in Amdocs by 5.0% during the second quarter. Alhambra Investment Management LLC now owns 2,585 shares of the technology company’s stock worth $236,000 after buying an additional 124 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Amdocs by 2.4% during the 2nd quarter. William Blair Investment Management LLC now owns 5,650 shares of the technology company’s stock worth $516,000 after buying an additional 133 shares during the period. Mutual Advisors LLC increased its stake in shares of Amdocs by 3.2% in the 2nd quarter. Mutual Advisors LLC now owns 4,516 shares of the technology company’s stock valued at $397,000 after acquiring an additional 138 shares during the last quarter. Finally, MGO One Seven LLC increased its stake in shares of Amdocs by 5.1% in the 2nd quarter. MGO One Seven LLC now owns 2,899 shares of the technology company’s stock valued at $264,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds 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.