Northern Trust Corp Boosts Position in j2 Global, Inc. (JCOM)
Northern Trust Corp boosted its holdings in shares of j2 Global, Inc. (NASDAQ:JCOM) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 852,603 shares of the technology company’s stock after buying an additional 13,821 shares during the quarter. Northern Trust Corp owned approximately 1.77% of j2 Global worth $72,548,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Meadow Creek Investment Management LLC increased its holdings in j2 Global by 7.0% during 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 grew its position in shares of j2 Global by 14.8% during the 1st quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock valued at $121,000 after acquiring an additional 186 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of j2 Global by 15.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock valued at $150,000 after acquiring an additional 241 shares during the period. First Mercantile Trust Co. grew its position in shares of j2 Global by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock valued at $183,000 after acquiring an additional 40 shares during the period. Finally, Highbridge Capital Management LLC bought a new stake in shares of j2 Global during the 1st quarter valued at $206,000.
Shares of j2 Global, Inc. (NASDAQ JCOM) opened at 74.26 on Tuesday. j2 Global, Inc. has a 52 week low of $62.55 and a 52 week high of $91.48. The firm has a 50-day moving average price of $73.91 and a 200-day moving average price of $82.00. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 24.88 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last released its quarterly earnings data 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). The company had revenue of $273.20 million during the quarter, compared to analysts’ expectations of $271.89 million. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. The company’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. On average, equities analysts anticipate that j2 Global, Inc. will post $5.76 earnings per share for the current year.
A number of equities analysts recently commented on JCOM shares. BidaskClub cut j2 Global from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. ValuEngine lowered j2 Global from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Citigroup Inc. reduced their price target on j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, August 7th. Robert W. Baird restated a “buy” rating and issued a $94.00 price target on shares of j2 Global in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded j2 Global from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. j2 Global has an average rating of “Hold” and a consensus price target of $100.60.
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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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