Strs Ohio Sells 600 Shares of j2 Global, Inc. (JCOM)
Strs Ohio reduced its stake in j2 Global, Inc. (NASDAQ:JCOM) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,800 shares of the technology company’s stock after selling 600 shares during the period. Strs Ohio’s holdings in j2 Global were worth $1,684,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Meadow Creek Investment Management LLC increased its stake in shares of 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 valued at $102,000 after buying an additional 80 shares during the period. Fifth Third Bancorp increased its stake in shares of j2 Global by 14.8% in the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock valued at $121,000 after buying an additional 186 shares during the period. Ledyard National Bank acquired a new stake in shares of j2 Global during the first quarter valued at about $138,000. Neuburgh Advisers LLC increased its stake in shares of j2 Global by 7.0% in the first quarter. Neuburgh Advisers LLC now owns 1,672 shares of the technology company’s stock valued at $140,000 after buying an additional 110 shares during the period. Finally, Tyers Asset Management LLC increased its stake in shares of j2 Global by 7.0% in the first quarter. Tyers Asset Management LLC now owns 2,128 shares of the technology company’s stock valued at $179,000 after buying an additional 140 shares during the period.
j2 Global, Inc. (NASDAQ JCOM) opened at 73.02 on Friday. The firm’s 50-day moving average price is $83.30 and its 200 day moving average price is $84.49. The stock has a market cap of $3.53 billion, a PE ratio of 24.46 and a beta of 0.94. j2 Global, Inc. has a 12-month low of $62.55 and a 12-month high of $91.48.
j2 Global (NASDAQ:JCOM) last announced its earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.06. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The firm had revenue of $273.20 million for the quarter, compared to analyst estimates of $271.89 million. During the same period in the previous year, the company earned $1.21 EPS. j2 Global’s revenue was up 29.0% compared to the same quarter last year. Analysts anticipate that j2 Global, Inc. will post $5.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a dividend of $0.385 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from j2 Global’s previous quarterly dividend of $0.38. j2 Global’s dividend payout ratio is presently 51.68%.
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Several brokerages recently issued reports on JCOM. Zacks Investment Research downgraded j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $120.00 target price (up previously from $95.00) on shares of j2 Global in a research note on Tuesday, May 9th. Finally, Citigroup Inc. decreased their target price on j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. j2 Global presently has an average rating of “Hold” and an average price target of $100.00.
In other j2 Global news, Director Douglas Y. Bech sold 15,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 123,966 shares of the company’s stock, valued at $10,643,720.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve P. Dunn sold 3,328 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $85.63, for a total value of $284,976.64. Following the transaction, the insider now directly owns 18,830 shares of the company’s stock, valued at approximately $1,612,412.90. The disclosure for this sale can be found here. Insiders have sold 19,664 shares of company stock valued at $1,688,040 in the last three months. 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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