Rice Hall James & Associates LLC Acquires 39,862 Shares of j2 Global, Inc. (JCOM)
Rice Hall James & Associates LLC raised its position in j2 Global, Inc. (NASDAQ:JCOM) by 20.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 232,470 shares of the technology company’s stock after buying an additional 39,862 shares during the period. Rice Hall James & Associates LLC’s holdings in j2 Global were worth $19,781,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in JCOM. Meadow Creek Investment Management LLC raised its position in j2 Global by 7.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,216 shares of the technology company’s stock worth $102,000 after buying an additional 80 shares in the last quarter. Fifth Third Bancorp raised its position in j2 Global by 14.8% in the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock worth $121,000 after buying an additional 186 shares in the last quarter. Ledyard National Bank acquired a new position in j2 Global during the first quarter worth approximately $138,000. Neuburgh Advisers LLC raised its position in j2 Global by 7.0% in the first quarter. Neuburgh Advisers LLC now owns 1,672 shares of the technology company’s stock worth $140,000 after buying an additional 110 shares in the last quarter. Finally, Tyers Asset Management LLC raised its position in j2 Global by 7.0% in the first quarter. Tyers Asset Management LLC now owns 2,128 shares of the technology company’s stock worth $179,000 after buying an additional 140 shares in the last quarter.
Shares of j2 Global, Inc. (JCOM) opened at 73.02 on Friday. j2 Global, Inc. has a 52 week low of $62.55 and a 52 week high of $91.48. The firm’s 50-day moving average is $83.30 and its 200-day moving average is $84.49. The firm has a market capitalization of $3.53 billion, a P/E ratio of 24.46 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by $0.06. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The company had revenue of $273.20 million for the quarter, compared to the consensus estimate of $271.89 million. During the same quarter in the prior year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 29.0% on a year-over-year basis. Equities analysts anticipate that j2 Global, Inc. will post $5.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a dividend of $0.385 per share. The ex-dividend date is Thursday, August 10th. This is a boost from j2 Global’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 2.11%. j2 Global’s dividend payout ratio is currently 51.68%.
JCOM has been the topic of a number of analyst reports. BidaskClub downgraded shares of j2 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Citigroup Inc. reduced their price objective on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, August 7th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $120.00 price objective (up from $95.00) on shares of j2 Global in a research note on Tuesday, May 9th. Finally, Zacks Investment Research downgraded shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $100.00.
In other news, Director Douglas Y. Bech sold 15,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $85.86, for a total transaction of $1,287,900.00. Following the sale, the director now directly owns 123,966 shares in the company, valued at $10,643,720.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director W Brian Kretzmer sold 1,336 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $86.20, for a total value of $115,163.20. Following the sale, the director now owns 11,607 shares in the company, valued at $1,000,523.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,664 shares of company stock worth $1,688,040. Company insiders own 5.15% of the company’s stock.
About j2 Global
j2 Global, Inc is a provider of services delivered through the Internet. The Company provides cloud services to businesses of all sizes, from individuals to enterprises. The Company operates in two segments: Business Cloud Services and Digital Media. The Company’s Digital Media business segment consists of the Web properties and business operations of Ziff Davis, Inc (Ziff Davis).
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