Amdocs (NASDAQ:DOX) Sets New 52-Week Low – Should You Sell?

Amdocs Limited (NASDAQ:DOX)’s stock price reached a new 52-week low on Monday . The company traded as low as $62.68 and last traded at $62.8890, with a volume of 696647 shares. The stock had previously closed at $63.75.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DOX. Wall Street Zen raised Amdocs from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Amdocs in a research note on Tuesday, January 27th. Barclays cut their price objective on Amdocs from $111.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Finally, Stifel Nicolaus lowered their target price on Amdocs from $97.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.33.

Amdocs Stock Performance

The stock has a market capitalization of $6.75 billion, a PE ratio of 12.10, a P/E/G ratio of 1.13 and a beta of 0.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s 50 day moving average is $66.05 and its two-hundred day moving average is $74.40.

Institutional Investors Weigh In On Amdocs

A number of hedge funds have recently bought and sold shares of DOX. Scotia Capital Inc. lifted its stake in Amdocs by 3.5% in the third quarter. Scotia Capital Inc. now owns 4,289 shares of the technology company’s stock worth $352,000 after acquiring an additional 145 shares during the last quarter. CENTRAL TRUST Co grew its stake in Amdocs by 6.1% during the 3rd quarter. CENTRAL TRUST Co now owns 2,741 shares of the technology company’s stock worth $225,000 after buying an additional 158 shares during the last quarter. WealthCollab LLC grew its position in shares of Amdocs by 94.5% during the third quarter. WealthCollab LLC now owns 356 shares of the technology company’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Rossby Financial LCC increased its holdings in shares of Amdocs by 39.3% in the 3rd quarter. Rossby Financial LCC now owns 620 shares of the technology company’s stock valued at $50,000 after acquiring an additional 175 shares during the period. Finally, Blair William & Co. IL raised its position in Amdocs by 5.5% in the 3rd quarter. Blair William & Co. IL now owns 3,393 shares of the technology company’s stock valued at $278,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 92.02% of the company’s stock.

Amdocs Company Profile

Amdocs (NASDAQ: DOX) is a global software and services provider specializing in solutions for communications, media and entertainment companies. The company designs, develops and integrates revenue management, customer experience and digital services platforms that enable service providers to launch and monetize new offerings, streamline operations and enhance subscriber engagement. Amdocs’ product suite encompasses billing and order management, customer relationship management, digital commerce and network function virtualization, supported by professional services for implementation, integration and managed operations.

Founded in 1982 and structured as a separate public company in 1998, Amdocs has its corporate headquarters in Chesterfield, Missouri, and maintains major development centers in Ra’anana, Israel.