J2 Global Inc (NASDAQ:JCOM) Holdings Lifted by Jackson Square Partners LLC

Jackson Square Partners LLC raised its position in J2 Global Inc (NASDAQ:JCOM) by 6.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,142,188 shares of the technology company’s stock after purchasing an additional 135,857 shares during the period. Jackson Square Partners LLC’s holdings in J2 Global were worth $185,513,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in J2 Global by 3.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,339 shares of the technology company’s stock valued at $463,000 after buying an additional 174 shares in the last quarter. LS Investment Advisors LLC increased its holdings in J2 Global by 6.6% in the fourth quarter. LS Investment Advisors LLC now owns 3,739 shares of the technology company’s stock valued at $259,000 after buying an additional 233 shares in the last quarter. Meitav Dash Investments Ltd. increased its holdings in J2 Global by 3.2% in the first quarter. Meitav Dash Investments Ltd. now owns 7,920 shares of the technology company’s stock valued at $681,000 after buying an additional 244 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in J2 Global by 68.4% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 645 shares of the technology company’s stock valued at $45,000 after buying an additional 262 shares in the last quarter. Finally, Alps Advisors Inc. increased its holdings in J2 Global by 2.3% in the fourth quarter. Alps Advisors Inc. now owns 12,850 shares of the technology company’s stock valued at $892,000 after buying an additional 289 shares in the last quarter. 99.90% of the stock is owned by institutional investors.

In related news, insider R Scott Turicchi sold 5,626 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $86.98, for a total transaction of $489,349.48. Following the completion of the sale, the insider now owns 291,489 shares of the company’s stock, valued at approximately $25,353,713.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steve P. Dunn sold 3,263 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $87.00, for a total transaction of $283,881.00. Following the sale, the insider now directly owns 19,544 shares of the company’s stock, valued at approximately $1,700,328. The disclosure for this sale can be found here. Insiders have sold 21,102 shares of company stock valued at $1,830,912 in the last three months. Corporate insiders own 5.90% of the company’s stock.

A number of research firms have recently commented on JCOM. BidaskClub cut shares of J2 Global from a “buy” rating to a “hold” rating in a research note on Wednesday, February 13th. Citigroup boosted their target price on shares of J2 Global from $84.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Zacks Investment Research raised shares of J2 Global from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. DA Davidson set a $110.00 target price on shares of J2 Global and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, Wedbush boosted their target price on shares of J2 Global from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. J2 Global currently has a consensus rating of “Buy” and a consensus target price of $100.20.

Shares of JCOM stock traded down $0.91 on Wednesday, reaching $85.80. 4,263 shares of the company were exchanged, compared to its average volume of 371,496. The stock has a market capitalization of $4.19 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.61 and a beta of 0.86. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.01. J2 Global Inc has a 1 year low of $65.07 and a 1 year high of $91.58.

J2 Global (NASDAQ:JCOM) last released its earnings results on Tuesday, May 7th. The technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The business had revenue of $299.90 million during the quarter, compared to analysts’ expectations of $296.12 million. J2 Global had a net margin of 11.60% and a return on equity of 28.93%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. On average, analysts expect that J2 Global Inc will post 6.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th were paid a dividend of $0.455 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from J2 Global’s previous quarterly dividend of $0.45. J2 Global’s payout ratio is currently 30.74%.

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About J2 Global

j2 Global, Inc, together with its subsidiaries, provides Internet services worldwide. It operates through three segments: Fax and Email Marketing; Voice, Backup, and Security; and Digital Media. The company offers cloud services to sole proprietors, small to medium-sized businesses and enterprises, and government organizations.

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Institutional Ownership by Quarter for J2 Global (NASDAQ:JCOM)

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