PJT Partners (NYSE:PJT) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of PJT Partners (NYSE:PJT) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other research analysts have also recently commented on PJT. UBS Group reaffirmed a “neutral” rating and set a $176.00 target price on shares of PJT Partners in a report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Keefe, Bruyette & Woods raised their price objective on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PJT Partners currently has an average rating of “Hold” and a consensus target price of $179.33.

PJT Partners Stock Performance

PJT stock opened at $168.03 on Friday. The company’s 50-day simple moving average is $159.53 and its 200 day simple moving average is $156.43. PJT Partners has a 52 week low of $127.73 and a 52 week high of $195.62. The company has a market capitalization of $4.34 billion, a PE ratio of 22.99 and a beta of 0.85.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.88%. The business had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. During the same period last year, the firm earned $1.54 earnings per share. PJT Partners’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts forecast that PJT Partners will post 8 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. PJT Partners’s dividend payout ratio (DPR) is currently 13.68%.

Insider Activity at PJT Partners

In related news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. This trade represents a 59.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Grace Reksten Skaugen sold 1,283 shares of PJT Partners stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $167.67, for a total transaction of $215,120.61. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at $83,835. This trade represents a 71.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PJT Partners

A number of large investors have recently modified their holdings of PJT. Jackson Creek Investment Advisors LLC bought a new position in PJT Partners in the fourth quarter valued at about $1,373,000. Bessemer Group Inc. raised its stake in PJT Partners by 1,446.5% during the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after acquiring an additional 107,564 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of PJT Partners by 8.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock worth $23,825,000 after acquiring an additional 10,570 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of PJT Partners by 28.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after purchasing an additional 7,830 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of PJT Partners by 28.5% in the 4th quarter. State of Alaska Department of Revenue now owns 17,010 shares of the financial services provider’s stock valued at $2,843,000 after purchasing an additional 3,775 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.