Foster & Motley Inc. Invests $1.49 Million in j2 Global, Inc. (JCOM)

Foster & Motley Inc. purchased a new position in j2 Global, Inc. (NASDAQ:JCOM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,478 shares of the technology company’s stock, valued at approximately $1,487,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC boosted its position in j2 Global by 0.3% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,301 shares of the technology company’s stock worth $697,000 after buying an additional 27 shares in the last quarter. Renaissance Group LLC boosted its position in j2 Global by 0.9% in the first quarter. Renaissance Group LLC now owns 3,961 shares of the technology company’s stock worth $332,000 after buying an additional 37 shares in the last quarter. World Asset Management Inc boosted its position in j2 Global by 1.8% in the first quarter. World Asset Management Inc now owns 2,966 shares of the technology company’s stock worth $249,000 after buying an additional 52 shares in the last quarter. Meadow Creek Investment Management LLC boosted 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. Finally, Cardinal Capital Management boosted its position in j2 Global by 1.1% in the first quarter. Cardinal Capital Management now owns 8,072 shares of the technology company’s stock worth $677,000 after buying an additional 90 shares in the last quarter.

Shares of j2 Global, Inc. (NASDAQ:JCOM) opened at 73.63 on Friday. The company has a 50-day moving average price of $81.37 and a 200 day moving average price of $84.11. j2 Global, Inc. has a 52 week low of $62.55 and a 52 week high of $91.48. The stock has a market capitalization of $3.56 billion, a P/E ratio of 24.67 and a beta of 0.94.

j2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.06. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. 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 prior year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. Analysts forecast that j2 Global, Inc. will post $5.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a $0.385 dividend. This is a positive change from j2 Global’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.54 annualized dividend and a yield of 2.09%. j2 Global’s dividend payout ratio is currently 51.68%.

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Several research firms have recently commented on JCOM. Zacks Investment Research cut j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $120.00 price target (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 for the company in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus 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 firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $85.86, for a total value of $1,287,900.00. Following the sale, the director now owns 123,966 shares of the company’s stock, valued at approximately $10,643,720.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steve P. Dunn sold 3,328 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 18,830 shares of the company’s stock, valued at $1,612,412.90. The disclosure for this sale can be found here. Insiders sold 19,664 shares of company stock worth $1,688,040 in the last 90 days. Corporate 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).

Institutional Ownership by Quarter for j2 Global (NASDAQ:JCOM)

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