Amdocs (NASDAQ:DOX) Shares Gap Down – Here’s Why

Amdocs Limited (NASDAQ:DOX)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $92.71, but opened at $85.30. Amdocs shares last traded at $85.11, with a volume of 517,210 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOX. Oppenheimer lifted their price objective on Amdocs from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Nicolaus assumed coverage on shares of Amdocs in a research note on Wednesday, October 2nd. They set a “buy” rating and a $100.00 target price for the company. Finally, StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $102.50.

Amdocs Stock Down 4.5 %

The firm has a market capitalization of $10.41 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $88.04 and a 200-day moving average price of $83.86.

Institutional Investors Weigh In On Amdocs

Several hedge funds and other institutional investors have recently bought and sold shares of DOX. Private Trust Co. NA grew its stake in shares of Amdocs by 62.9% in the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company’s stock valued at $27,000 after buying an additional 117 shares during the period. Brooklyn Investment Group purchased a new position in Amdocs in the third quarter worth approximately $28,000. Catalyst Capital Advisors LLC acquired a new stake in Amdocs during the third quarter worth $55,000. GAMMA Investing LLC raised its position in Amdocs by 115.1% in the third quarter. GAMMA Investing LLC now owns 800 shares of the technology company’s stock valued at $70,000 after purchasing an additional 428 shares during the period. Finally, American National Bank acquired a new position in shares of Amdocs in the 2nd quarter valued at $76,000. 92.02% of the stock is currently owned by institutional investors and hedge funds.

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.