StockNews.com Upgrades Amdocs (NASDAQ:DOX) to “Strong-Buy”

Amdocs (NASDAQ:DOX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

DOX has been the topic of several other research reports. Oppenheimer boosted their price target on shares of Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus began coverage on shares of Amdocs in a research report on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price on the stock. Finally, Barclays reduced their price objective on Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $101.20.

Amdocs Stock Performance

NASDAQ DOX opened at $84.18 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 1.24. Amdocs has a 1-year low of $74.41 and a 1-year high of $94.04. The business has a 50 day simple moving average of $87.03 and a two-hundred day simple moving average of $85.57. The stock has a market capitalization of $9.50 billion, a PE ratio of 19.85, a P/E/G ratio of 1.45 and a beta of 0.71.

Hedge Funds Weigh In On Amdocs

A number of large investors have recently bought and sold shares of DOX. Janus Henderson Group PLC boosted its holdings 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 period. Pzena Investment Management LLC grew its position in shares of Amdocs by 12.3% during 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Amdocs by 36.6% during 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 buying an additional 851,022 shares during the period. Brandes Investment Partners LP raised its holdings 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 valued at $178,335,000 after acquiring an additional 536,359 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Amdocs by 0.8% in the third quarter. Wellington Management Group LLP now owns 2,136,932 shares of the technology company’s stock worth $186,939,000 after acquiring an additional 16,580 shares during the period. Hedge funds and other 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.