Amdocs Limited (NASDAQ:DOX) Stock Holdings Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Amdocs Limited (NASDAQ:DOX - Free Report) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 306,995 shares of the technology company's stock after selling 23,703 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.27% of Amdocs worth $26,856,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. 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 worth $516,000 after buying an additional 109 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Amdocs by 62.9% during the 3rd quarter. Private Trust Co. NA now owns 303 shares of the technology company's stock worth $27,000 after acquiring an additional 117 shares in the last quarter. Natixis Advisors LLC increased its position in Amdocs by 0.4% during 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 in the last quarter. Morton Community Bank boosted its stake in shares of 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 holdings 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 valued at $741,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 92.02% of the company's stock.

Amdocs Price Performance

Shares of Amdocs stock traded up $0.03 during trading on Wednesday, reaching $84.21. The company's stock had a trading volume of 817,213 shares, compared to its average volume of 486,083. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $9.51 billion, a P/E ratio of 19.86, 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 business has a 50 day moving average price of $86.94 and a 200-day moving average price of $85.61.

Amdocs Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.479 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Amdocs's payout ratio is 45.05%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Oppenheimer upped their target price on shares of Amdocs from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com upgraded Amdocs from a "buy" rating to a "strong-buy" rating in a research report on Monday. Stifel Nicolaus initiated coverage on Amdocs in a research note on Wednesday, October 2nd. They issued a "buy" rating and a $100.00 target price on the stock. Finally, Barclays decreased their target price on Amdocs from $113.00 to $111.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price 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.