JPMorgan Chase & Co. Sells 23,703 Shares of Amdocs Limited (NASDAQ:DOX)

JPMorgan Chase & Co. decreased its stake in shares of Amdocs Limited (NASDAQ:DOX) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,995 shares of the technology company’s stock after selling 23,703 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Amdocs worth $26,856,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its holdings in Amdocs by 1.9% during the third quarter. First Horizon Advisors Inc. now owns 5,902 shares of the technology company’s stock valued at $516,000 after buying an additional 109 shares during the last quarter. Private Trust Co. NA increased 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 purchasing an additional 117 shares in the last quarter. Natixis Advisors LLC raised its holdings in Amdocs by 0.4% in the 2nd quarter. Natixis Advisors LLC now owns 27,246 shares of the technology company’s stock worth $2,150,000 after purchasing an additional 120 shares during the period. Morton Community Bank lifted its position in Amdocs by 0.4% during the third quarter. Morton Community Bank now owns 36,410 shares of the technology company’s stock valued at $3,185,000 after purchasing an additional 130 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its position in Amdocs by 1.5% in the second quarter. Y.D. More Investments Ltd now owns 9,389 shares of the technology company’s stock worth $741,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Amdocs Trading Down 0.3 %

Shares of DOX stock opened at $84.18 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 1.45 and a beta of 0.71. Amdocs Limited has a 12-month low of $74.41 and a 12-month high of $94.04. The stock’s 50-day moving average price is $87.03 and its 200-day moving average price is $85.57.

Amdocs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.479 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.92 annualized dividend and a dividend yield of 2.28%. Amdocs’s dividend payout ratio (DPR) is 45.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DOX shares. StockNews.com raised Amdocs from a “buy” rating to a “strong-buy” rating in a research report on Monday. Oppenheimer upped 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. Barclays decreased their price objective on shares of Amdocs from $113.00 to $111.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Amdocs currently has a consensus rating of “Buy” and an average price target of $101.20.

Amdocs 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.