Panagora Asset Management Inc. cut its holdings in shares of Juniper Networks, Inc. (NYSE:JNPR) by 64.6% during the 2nd quarter, Holdings Channel reports. The firm owned 53,784 shares of the network equipment provider’s stock after selling 98,140 shares during the period. Panagora Asset Management Inc.’s holdings in Juniper Networks were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in JNPR. First Trust Advisors LP boosted its stake in shares of Juniper Networks by 15.9% during the first quarter. First Trust Advisors LP now owns 10,827,955 shares of the network equipment provider’s stock valued at $286,616,000 after purchasing an additional 1,483,427 shares during the period. FIL Ltd increased its holdings in Juniper Networks by 11.9% during the 1st quarter. FIL Ltd now owns 6,369,659 shares of the network equipment provider’s stock worth $168,604,000 after purchasing an additional 678,228 shares during the period. Bessemer Group Inc. increased its holdings in Juniper Networks by 2,689.4% during the 2nd quarter. Bessemer Group Inc. now owns 661,861 shares of the network equipment provider’s stock worth $17,625,000 after purchasing an additional 638,133 shares during the period. Teacher Retirement System of Texas raised its position in Juniper Networks by 108.0% during the 1st quarter. Teacher Retirement System of Texas now owns 1,065,099 shares of the network equipment provider’s stock valued at $28,193,000 after purchasing an additional 553,010 shares in the last quarter. Finally, BlackRock Inc. raised its position in Juniper Networks by 1.8% during the 1st quarter. BlackRock Inc. now owns 25,960,427 shares of the network equipment provider’s stock valued at $687,171,000 after purchasing an additional 462,478 shares in the last quarter. 90.89% of the stock is currently owned by institutional investors.
Shares of Juniper Networks stock traded down $0.24 during trading hours on Wednesday, reaching $24.27. The stock had a trading volume of 32,505 shares, compared to its average volume of 2,955,151. The stock’s 50 day moving average is $24.68 and its 200 day moving average is $26.20. The firm has a market capitalization of $8.31 billion, a PE ratio of 17.83, a PEG ratio of 3.08 and a beta of 0.98. Juniper Networks, Inc. has a twelve month low of $22.42 and a twelve month high of $30.80. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.32.
Juniper Networks (NYSE:JNPR) last announced its quarterly earnings results on Thursday, July 25th. The network equipment provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.06). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Juniper Networks had a net margin of 11.05% and a return on equity of 10.00%. Juniper Networks’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, sell-side analysts predict that Juniper Networks, Inc. will post 1.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, September 3rd. Juniper Networks’s dividend payout ratio (DPR) is presently 55.88%.
A number of research firms have recently issued reports on JNPR. Rosenblatt Securities raised Juniper Networks from a “sell” rating to a “neutral” rating and increased their price target for the stock from $24.00 to $27.00 in a research report on Wednesday, June 12th. Barclays started coverage on Juniper Networks in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $27.00 price objective for the company. Raymond James set a $29.00 price objective on shares of Juniper Networks and gave the stock a “buy” rating in a research note on Friday, September 6th. Evercore ISI initiated coverage on Juniper Networks in a research report on Wednesday. They set an “inline” rating and a $26.00 target price on the stock. Finally, Citigroup downgraded shares of Juniper Networks from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $28.00 to $24.00 in a research report on Monday, July 8th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.40.
In other Juniper Networks news, Director William Stensrud sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $24.00, for a total value of $240,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Manoj Leelanivas sold 9,000 shares of Juniper Networks stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $26.80, for a total transaction of $241,200.00. Following the sale, the executive vice president now directly owns 18,641 shares in the company, valued at approximately $499,578.80. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock valued at $737,990 over the last 90 days. Company insiders own 1.10% of the company’s stock.
Juniper Networks Profile
Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers various routing products, such as ACX series universal access routers to deploy new high-bandwidth services; MX series Ethernet routers that functions as a universal edge platform; PTX series packet transport routers; cloud customer premises equipment; and NorthStar controllers.
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