JPMorgan Chase & Co. Sells 14,240 Shares of Amdocs Limited (NASDAQ:DOX)

JPMorgan Chase & Co. cut its stake in Amdocs Limited (NASDAQ:DOX - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 292,755 shares of the technology company's stock after selling 14,240 shares during the quarter. JPMorgan Chase & Co. owned 0.26% of Amdocs worth $24,925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in Amdocs in the 4th quarter valued at about $36,000. SBI Securities Co. Ltd. purchased a new stake in shares of Amdocs during the fourth quarter valued at approximately $41,000. Global Retirement Partners LLC lifted its holdings in Amdocs by 45.6% during the fourth quarter. Global Retirement Partners LLC now owns 559 shares of the technology company's stock worth $48,000 after acquiring an additional 175 shares during the period. Private Trust Co. NA boosted its position in Amdocs by 121.5% in the fourth quarter. Private Trust Co. NA now owns 671 shares of the technology company's stock worth $57,000 after purchasing an additional 368 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Amdocs by 199.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the technology company's stock worth $59,000 after purchasing an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Amdocs from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $101.20.

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Amdocs Stock Performance

Amdocs stock traded up $0.75 during trading on Tuesday, hitting $84.85. The stock had a trading volume of 131,274 shares, compared to its average volume of 725,616. The company has a quick ratio of 1.20, a current ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock's 50 day moving average is $87.59 and its two-hundred day moving average is $87.23. Amdocs Limited has a 1 year low of $74.41 and a 1 year high of $93.34. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59.

Amdocs (NASDAQ:DOX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.19). Amdocs had a return on equity of 18.89% and a net margin of 10.19%. As a group, analysts predict that Amdocs Limited will post 6.21 EPS for the current year.

Amdocs Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 31st will be given a $0.527 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a dividend yield of 2.48%. This is a positive change from Amdocs's previous quarterly dividend of $0.48. Amdocs's payout ratio is 48.72%.

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.