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).
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