Cubist Systematic Strategies LLC lifted its position in shares of j2 Global, Inc. (NASDAQ:JCOM) by 67.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,730 shares of the technology company’s stock after purchasing an additional 9,168 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in j2 Global were worth $1,679,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of j2 Global by 19.9% during the 2nd quarter. FMR LLC now owns 6,055,030 shares of the technology company’s stock valued at $515,222,000 after purchasing an additional 1,004,664 shares during the last quarter. Vanguard Group Inc. increased its position in shares of j2 Global by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,904,633 shares of the technology company’s stock valued at $332,246,000 after purchasing an additional 123,030 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of j2 Global by 20.0% during the 2nd quarter. William Blair Investment Management LLC now owns 3,114,743 shares of the technology company’s stock valued at $265,033,000 after purchasing an additional 518,998 shares during the last quarter. TimesSquare Capital Management LLC increased its position in shares of j2 Global by 2.4% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,788,367 shares of the technology company’s stock valued at $132,125,000 after purchasing an additional 41,255 shares during the last quarter. Finally, State Street Corp increased its position in shares of j2 Global by 4.5% during the 2nd quarter. State Street Corp now owns 1,675,239 shares of the technology company’s stock valued at $142,548,000 after purchasing an additional 71,785 shares during the last quarter.
Several research analysts have recently weighed in on the company. BidaskClub downgraded j2 Global from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Zacks Investment Research downgraded j2 Global from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. ValuEngine upgraded j2 Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Finally, Robert W. Baird reiterated a “buy” rating and set a $94.00 price target on shares of j2 Global in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. j2 Global presently has a consensus rating of “Hold” and a consensus target price of $101.75.
j2 Global, Inc. (JCOM) opened at $76.40 on Friday. j2 Global, Inc. has a 12 month low of $71.09 and a 12 month high of $91.48. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $3,645.67, a PE ratio of 14.68 and a beta of 0.87.
j2 Global (NASDAQ:JCOM) last issued its earnings results on Thursday, November 2nd. The technology company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.02). j2 Global had a return on equity of 26.43% and a net margin of 12.60%. The company had revenue of $273.60 million during the quarter, compared to the consensus estimate of $272.84 million. During the same quarter in the prior year, the business earned $1.25 EPS. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. equities analysts expect that j2 Global, Inc. will post 5.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were issued a $0.395 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.58 annualized dividend and a dividend yield of 2.07%. This is a boost from j2 Global’s previous quarterly dividend of $0.39. j2 Global’s dividend payout ratio (DPR) is presently 58.52%.
In other j2 Global news, VP Jeremy Rossen sold 2,514 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $74.05, for a total value of $186,161.70. Following the sale, the vice president now owns 26,372 shares of the company’s stock, valued at approximately $1,952,846.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.15% of the company’s stock.
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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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