Piper Jaffray Cos. (NYSE:PJC)’s share price rose 3.7% during trading on Wednesday . The stock traded as high as $38.80 and last traded at $38.80, with a volume of 77,866 shares changing hands. The stock had previously closed at $37.43.

PJC has been the topic of several recent research reports. TheStreet downgraded Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. Sandler O’Neill downgraded Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a research report on Friday, April 15th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.80.

The stock has a market cap of $613.99 million and a PE ratio of 15.37. The firm has a 50-day moving average of $40.13 and a 200-day moving average of $41.40.

Piper Jaffray Cos. (NYSE:PJC) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.12. The company had revenue of $152.20 million for the quarter, compared to the consensus estimate of $153.06 million. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. Equities analysts expect that Piper Jaffray Cos. will post $3.45 EPS for the current year.

In related news, insider R Scott Larue sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $41.76, for a total transaction of $835,200.00. Following the completion of the sale, the insider now owns 79,653 shares of the company’s stock, valued at $3,326,309.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of large investors recently bought and sold shares of PJC. LSV Asset Management increased its stake in Piper Jaffray Cos. by 1,440.9% in the fourth quarter. LSV Asset Management now owns 302,021 shares of the company’s stock worth $12,201,000 after buying an additional 282,421 shares during the period. Oxford Asset Management bought a new stake in Piper Jaffray Cos. during the fourth quarter worth approximately $2,946,000. Bank of Montreal Can increased its stake in Piper Jaffray Cos. by 3,579.6% in the fourth quarter. Bank of Montreal Can now owns 67,963 shares of the company’s stock worth $2,745,000 after buying an additional 66,116 shares during the period. California State Teachers Retirement System increased its stake in Piper Jaffray Cos. by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 27,976 shares of the company’s stock worth $1,130,000 after buying an additional 400 shares during the period. Finally, Rhumbline Advisers increased its stake in Piper Jaffray Cos. by 1.7% in the fourth quarter. Rhumbline Advisers now owns 27,951 shares of the company’s stock worth $1,129,000 after buying an additional 465 shares during the period.

Piper Jaffray Companies is an investment bank and asset management firm serving the needs of corporations, private equity groups, public entities, non-profit entities and institutional investors in the United States and internationally. The Company provides products and services including equity and debt capital markets products, public finance services, financial advisory services, equity and fixed income institutional brokerage, equity and fixed income research and asset management services.

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