Amdocs (NASDAQ:DOX) had its price objective lifted by research analysts at Stifel Nicolaus from $72.00 to $75.00 in a report released on Wednesday. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.29% from the stock’s current price.
DOX has been the subject of a number of other reports. Zacks Investment Research raised shares of Amdocs from a “sell” rating to a “hold” rating in a research note on Tuesday, January 16th. Robert W. Baird reissued a “hold” rating and set a $66.00 price target on shares of Amdocs in a research report on Friday, October 20th. Jefferies Group reissued a “hold” rating and set a $70.00 price target on shares of Amdocs in a research report on Thursday, October 12th. Oppenheimer reissued a “buy” rating and set a $77.00 price target on shares of Amdocs in a research report on Thursday, December 14th. Finally, BidaskClub raised shares of Amdocs from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.71.
Amdocs (NASDAQ:DOX) opened at $69.26 on Wednesday. Amdocs has a fifty-two week low of $56.10 and a fifty-two week high of $71.37. The stock has a market cap of $10,022.19, a price-to-earnings ratio of 23.40, a PEG ratio of 2.39 and a beta of 0.52.
Amdocs announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that allows the company to buyback $800.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently modified their holdings of the business. BB&T Investment Services Inc. bought a new stake in Amdocs during the 2nd quarter worth about $118,000. Robecosam AG raised its holdings in shares of Amdocs by 37.8% in the 2nd quarter. Robecosam AG now owns 2,550 shares of the technology company’s stock valued at $163,000 after purchasing an additional 700 shares during the period. CENTRAL TRUST Co raised its holdings in shares of Amdocs by 45.0% in the 4th quarter. CENTRAL TRUST Co now owns 3,388 shares of the technology company’s stock valued at $222,000 after purchasing an additional 1,052 shares during the period. Prudential Financial Inc. bought a new stake in shares of Amdocs in the 2nd quarter valued at about $230,000. Finally, Cerebellum GP LLC bought a new stake in shares of Amdocs in the 4th quarter valued at about $246,000. 92.38% of the stock is currently owned by hedge funds and other institutional investors.
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About Amdocs
Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.
