Amdocs (NASDAQ:DOX) Shares Gap Down – Should You Sell?

Amdocs Limited (NASDAQ:DOX)’s share price gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

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

Amdocs Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average price is $88.04 and its 200 day moving average price is $83.86. The stock has a market capitalization of $10.41 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.50 and a beta of 0.74.

Institutional Investors Weigh In On Amdocs

Large investors have recently added to or reduced their stakes in the stock. Private Trust Co. NA boosted 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 worth $27,000 after buying an additional 117 shares during the last quarter. Brooklyn Investment Group purchased a new position in Amdocs in the third quarter worth about $28,000. Catalyst Capital Advisors LLC purchased a new position in Amdocs in the third quarter worth about $55,000. GAMMA Investing LLC grew its stake in shares of Amdocs by 115.1% during the 3rd 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 bought a new position in shares of Amdocs in the 2nd quarter worth approximately $76,000. Institutional investors own 92.02% of the company’s stock.

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.