Jensen Investment Management Inc. Holds Stake in j2 Global, Inc. (JCOM)
Jensen Investment Management Inc. continued to hold its position in j2 Global, Inc. (NASDAQ:JCOM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,490 shares of the technology company’s stock at the end of the second quarter. Jensen Investment Management Inc.’s holdings in j2 Global were worth $552,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC raised its position in j2 Global by 7.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,216 shares of the technology company’s stock valued at $102,000 after buying an additional 80 shares during the last quarter. Fifth Third Bancorp raised its position in j2 Global by 14.8% in the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock valued at $121,000 after buying an additional 186 shares during the last quarter. Neuburgh Advisers LLC raised its position in j2 Global by 7.0% in the first quarter. Neuburgh Advisers LLC now owns 1,672 shares of the technology company’s stock valued at $140,000 after buying an additional 110 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in j2 Global by 15.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock valued at $150,000 after buying an additional 241 shares during the last quarter. Finally, Tyers Asset Management LLC raised its position in j2 Global by 7.0% in the first quarter. Tyers Asset Management LLC now owns 2,128 shares of the technology company’s stock valued at $179,000 after buying an additional 140 shares during the last quarter.
Shares of j2 Global, Inc. (NASDAQ JCOM) traded up 0.82% during mid-day trading on Thursday, hitting $74.80. 31,238 shares of the stock traded hands. The firm’s 50-day moving average is $79.86 and its 200-day moving average is $83.72. j2 Global, Inc. has a 52 week low of $62.55 and a 52 week high of $91.48. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 25.06 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $271.89 million. During the same period in the prior year, the business posted $1.21 earnings per share. j2 Global’s revenue was up 29.0% on a year-over-year basis. On average, analysts forecast that j2 Global, Inc. will post $5.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a dividend of $0.385 per share. The ex-dividend date of this dividend is Thursday, August 10th. This is a positive change from j2 Global’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 2.08%. j2 Global’s payout ratio is 51.68%.
JCOM has been the subject of several analyst reports. BidaskClub upgraded shares of j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Citigroup Inc. lowered their price target on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, August 7th. Susquehanna Bancshares Inc restated a “positive” rating and set a $120.00 price target (up previously from $95.00) on shares of j2 Global in a report on Tuesday, May 9th. Finally, Zacks Investment Research lowered shares of j2 Global from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $100.00.
In other j2 Global news, Director Douglas Y. Bech sold 15,000 shares of j2 Global stock in a transaction on Monday, June 12th. The stock was sold at an average price of $85.86, for a total transaction of $1,287,900.00. Following the completion of the sale, the director now directly owns 123,966 shares of the company’s stock, valued at approximately $10,643,720.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director W Brian Kretzmer sold 1,336 shares of j2 Global stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $86.20, for a total value of $115,163.20. Following the sale, the director now directly owns 11,607 shares of the company’s stock, valued at $1,000,523.40. The disclosure for this sale can be found here. Insiders own 5.15% of the company’s stock.
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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