Piper Jaffray Cos. (NYSE:PJC) traded up 3.7% during mid-day trading on Wednesday . The company traded as high as $38.80 and last traded at $38.80, with a volume of 77,866 shares trading hands. The stock had previously closed at $37.43.

A number of equities research analysts have issued reports on the stock. TheStreet cut shares of Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. Sandler O’Neill cut shares of Piper Jaffray Cos. from a “buy” rating to a “hold” rating in a research note on Friday, April 15th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Piper Jaffray Cos. has a consensus rating of “Hold” and a consensus target price of $43.80.

The firm has a market capitalization of $635.07 million and a PE ratio of 15.90. The company has a 50-day moving average price of $39.99 and a 200 day moving average price of $41.36.

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

In other Piper Jaffray Cos. news, insider R Scott Larue sold 20,000 shares of Piper Jaffray Cos. stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $41.76, for a total value of $835,200.00. Following the sale, the insider now directly owns 79,653 shares in the company, valued at approximately $3,326,309.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several hedge funds and institutional investors have recently added to or reduced their stakes in PJC. Rhumbline Advisers raised its position in Piper Jaffray Cos. by 1.7% in the fourth quarter. Rhumbline Advisers now owns 27,951 shares of the company’s stock valued at $1,129,000 after buying an additional 465 shares in the last quarter. California State Teachers Retirement System raised its position 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 valued at $1,130,000 after buying an additional 400 shares in the last quarter. Bank of Montreal Can raised its position 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 valued at $2,745,000 after buying an additional 66,116 shares in the last quarter. Oxford Asset Management purchased a new position in Piper Jaffray Cos. during the fourth quarter valued at $2,946,000. Finally, LSV Asset Management raised its position 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 valued at $12,201,000 after buying an additional 282,421 shares in the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.