PNC Financial Services Group Inc. Lowers Position in j2 Global, Inc. (JCOM)
PNC Financial Services Group Inc. lowered its position in j2 Global, Inc. (NASDAQ:JCOM) by 14.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,750 shares of the technology company’s stock after selling 4,032 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.05% of j2 Global worth $2,107,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in j2 Global by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 5,629 shares of the technology company’s stock worth $479,000 after purchasing an additional 15 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of j2 Global by 1.9% in the 2nd quarter. First Mercantile Trust Co. now owns 2,150 shares of the technology company’s stock worth $183,000 after buying an additional 40 shares during the period. World Asset Management Inc lifted its holdings in shares of j2 Global by 1.8% in the 1st quarter. World Asset Management Inc now owns 2,966 shares of the technology company’s stock worth $249,000 after buying an additional 52 shares during the period. Meadow Creek Investment Management LLC lifted its holdings in shares of j2 Global by 7.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,216 shares of the technology company’s stock worth $102,000 after buying an additional 80 shares during the period. Finally, Chase Investment Counsel Corp lifted its holdings in shares of j2 Global by 1.3% in the 2nd quarter. Chase Investment Counsel Corp now owns 7,271 shares of the technology company’s stock worth $618,000 after buying an additional 96 shares during the period.
Shares of j2 Global, Inc. (NASDAQ:JCOM) opened at 74.26 on Tuesday. j2 Global, Inc. has a 12 month low of $62.55 and a 12 month high of $91.48. The company’s 50-day moving average price is $73.91 and its 200-day moving average price is $82.00. The company has a market cap of $3.59 billion, a P/E ratio of 24.88 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last posted 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 during the quarter, compared to analyst estimates of $271.89 million. During the same quarter last year, the firm earned $1.21 EPS. The business’s revenue was up 29.0% on a year-over-year basis. Equities analysts forecast that j2 Global, Inc. will post $5.76 EPS for the current fiscal year.
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A number of research firms have recently issued reports on JCOM. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Citigroup Inc. lowered their price objective on shares of j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, August 7th. Zacks Investment Research cut shares of j2 Global from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird reissued a “buy” rating and set a $94.00 target price on shares of j2 Global in a research report on Friday, September 1st. Finally, ValuEngine lowered shares of j2 Global from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $100.60.
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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