Bbva Compass Bancshares Inc. decreased its position in j2 Global, Inc. (NASDAQ:JCOM) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,821 shares of the technology company’s stock after selling 288 shares during the period. Bbva Compass Bancshares Inc.’s holdings in j2 Global were worth $240,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in j2 Global by 21,973.5% in the first quarter. BlackRock Inc. now owns 4,838,726 shares of the technology company’s stock worth $406,018,000 after buying an additional 4,816,805 shares during the period. Schroder Investment Management Group raised its stake in j2 Global by 31.9% in the first quarter. Schroder Investment Management Group now owns 1,210,417 shares of the technology company’s stock worth $102,498,000 after buying an additional 292,945 shares during the period. Vanguard Group Inc. raised its stake in j2 Global by 4.7% in the first quarter. Vanguard Group Inc. now owns 3,781,603 shares of the technology company’s stock worth $317,314,000 after buying an additional 170,245 shares during the period. Legato Capital Management LLC raised its stake in j2 Global by 8,291.0% in the first quarter. Legato Capital Management LLC now owns 103,125 shares of the technology company’s stock worth $1,229,000 after buying an additional 101,896 shares during the period. Finally, Stifel Financial Corp raised its stake in j2 Global by 77.4% in the first quarter. Stifel Financial Corp now owns 229,999 shares of the technology company’s stock worth $19,346,000 after buying an additional 100,385 shares during the period.
j2 Global, Inc. (JCOM) opened at 75.52 on Thursday. The stock has a market cap of $3.64 billion, a PE ratio of 24.87 and a beta of 0.94. The firm has a 50-day moving average of $84.25 and a 200-day moving average of $84.67. j2 Global, Inc. has a 1-year low of $62.55 and a 1-year high of $91.48.
j2 Global (NASDAQ:JCOM) last released its earnings results on Thursday, August 3rd. The technology company reported $1.25 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $271.89 million. During the same quarter in the previous year, the business posted $1.21 EPS. j2 Global’s revenue was up 29.0% on a year-over-year basis. Analysts expect that j2 Global, Inc. will post $5.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a dividend of $0.385 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.54 annualized dividend and a dividend yield of 2.04%. This is a boost from j2 Global’s previous quarterly dividend of $0.38. j2 Global’s dividend payout ratio (DPR) is presently 50.34%.
JCOM has been the topic of a number of analyst reports. Susquehanna Bancshares Inc reaffirmed 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. Zacks Investment Research lowered shares of j2 Global from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub raised shares of j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Citigroup Inc. decreased 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. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $100.00.
In other news, Director Douglas Y. Bech sold 15,000 shares of j2 Global stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $85.86, for a total transaction of $1,287,900.00. Following the sale, the director now owns 123,966 shares in the company, valued at $10,643,720.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steve P. Dunn sold 3,328 shares of j2 Global stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $85.63, for a total transaction of $284,976.64. Following the sale, the insider now owns 18,830 shares in the company, valued at approximately $1,612,412.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,664 shares of company stock worth $1,688,040. Company 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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