Bessemer Group Inc. held its position in j2 Global, Inc. (NASDAQ:JCOM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,344 shares of the technology company’s stock at the end of the second quarter. Bessemer Group Inc.’s holdings in j2 Global were worth $3,518,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of JCOM. First Citizens Bank & Trust Co. raised its position in j2 Global by 51.1% in the first quarter. First Citizens Bank & Trust Co. now owns 4,242 shares of the technology company’s stock valued at $356,000 after buying an additional 1,435 shares during the last quarter. Profund Advisors LLC raised its position in j2 Global by 7.4% in the first quarter. Profund Advisors LLC now owns 24,327 shares of the technology company’s stock valued at $2,041,000 after buying an additional 1,676 shares during the last quarter. Retirement Systems of Alabama raised its position in j2 Global by 93.0% in the first quarter. Retirement Systems of Alabama now owns 119,683 shares of the technology company’s stock valued at $10,043,000 after buying an additional 57,682 shares during the last quarter. Anderson Hoagland & Co. acquired a new position in j2 Global during the first quarter valued at $1,258,000. Finally, Rice Hall James & Associates LLC raised its position in j2 Global by 2.3% in the first quarter. Rice Hall James & Associates LLC now owns 192,608 shares of the technology company’s stock valued at $16,162,000 after buying an additional 4,310 shares during the last quarter.
j2 Global, Inc. (NASDAQ:JCOM) opened at 76.94 on Tuesday. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 25.33 and a beta of 0.94. The firm has a 50-day moving average of $85.70 and a 200-day moving average of $84.96. j2 Global, Inc. has a one year low of $62.55 and a one year high of $91.48.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $273.20 million for the quarter, compared to analyst estimates of $271.89 million. During the same quarter last year, the company earned $1.21 EPS. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. Analysts anticipate that j2 Global, Inc. will post $5.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a dividend of $0.385 per share. 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 dividend yield of 2.00%. j2 Global’s dividend payout ratio is 50.34%.
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Several equities analysts recently weighed in on the stock. Susquehanna Bancshares Inc restated a “positive” rating and set a $120.00 target price (up previously from $95.00) on shares of j2 Global in a report on Tuesday, May 9th. BidaskClub upgraded shares of j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research lowered shares of j2 Global from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. Finally, Citigroup Inc. reduced their target price on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $100.00.
In related news, VP Jeremy Rossen sold 1,094 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $88.65, for a total value of $96,983.10. Following the transaction, the vice president now directly owns 31,466 shares in the company, valued at approximately $2,789,460.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert J. Cresci sold 9,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $88.67, for a total transaction of $798,030.00. Following the completion of the transaction, the director now owns 84,569 shares in the company, valued at $7,498,733.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,758 shares of company stock worth $2,583,053. 5.15% of the stock is currently owned by company insiders.
j2 Global Company Profile
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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