JPMorgan Chase & Co. cut its stake in Amdocs Ltd. (NASDAQ:DOX) by 21.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,884 shares of the company’s stock after selling 145,284 shares during the period. JPMorgan Chase & Co. owned approximately 0.36% of Amdocs worth $31,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Amdocs by 15.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,996 shares of the company’s stock valued at $180,000 after buying an additional 411 shares in the last quarter. Leavell Investment Management Inc. purchased a new position in shares of Amdocs during the second quarter valued at about $229,000. Eqis Capital Management Inc. increased its position in shares of Amdocs by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 4,316 shares of the company’s stock valued at $249,000 after buying an additional 26 shares in the last quarter. Societe Generale purchased a new position in shares of Amdocs during the second quarter valued at about $254,000. Finally, Park Avenue Securities LLC increased its position in shares of Amdocs by 12.9% in the second quarter. Park Avenue Securities LLC now owns 4,877 shares of the company’s stock valued at $280,000 after buying an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.

Amdocs Ltd. (NASDAQ:DOX) traded down 0.34% on Tuesday, reaching $59.13. 289,396 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $59.52 and a 200 day moving average price of $58.18. Amdocs Ltd. has a 12-month low of $50.06 and a 12-month high of $61.33. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 22.36 and a beta of 0.68.

Amdocs (NASDAQ:DOX) last released its earnings results on Tuesday, July 26th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $930 million for the quarter, compared to the consensus estimate of $928.81 million. Amdocs had a net margin of 10.93% and a return on equity of 14.59%. Amdocs’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Analysts forecast that Amdocs Ltd. will post $3.57 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 30th will be given a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, September 28th. Amdocs’s dividend payout ratio is presently 29.32%.

A number of research analysts recently weighed in on the stock. Jefferies Group increased their price objective on shares of Amdocs from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of Amdocs from a “buy” rating to a “hold” rating in a research report on Monday, July 11th. Citigroup Inc. increased their price objective on shares of Amdocs from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $65.00 price objective on shares of Amdocs in a research report on Thursday, September 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Amdocs from $61.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $63.13.

About Amdocs

Amdocs Limited is a provider of software and services for communications, entertainment and media industry service providers. The Company develops, implements and manages software and services associated with business support systems (BSS), operational support systems (OSS) and network operations to enable service providers to introduce new products and services, process orders, monetize data, support new business models and enhance their understanding of their customers.

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