Retirement Systems of Alabama Sells 54 Shares of j2 Global, Inc. (NASDAQ:JCOM)
Retirement Systems of Alabama decreased its position in shares of j2 Global, Inc. (NASDAQ:JCOM) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 119,629 shares of the technology company’s stock after selling 54 shares during the period. Retirement Systems of Alabama’s holdings in j2 Global were worth $10,179,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC increased its stake 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 worth $102,000 after buying an additional 80 shares during the last quarter. Fifth Third Bancorp increased its stake in j2 Global by 14.8% in the first quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock worth $121,000 after buying an additional 186 shares during the last quarter. Ledyard National Bank bought a new stake in j2 Global during the first quarter worth $138,000. Neuburgh Advisers LLC increased its stake in j2 Global by 7.0% in the first quarter. Neuburgh Advisers LLC now owns 1,672 shares of the technology company’s stock worth $140,000 after buying an additional 110 shares during the last quarter. Finally, Tyers Asset Management LLC increased its stake 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 worth $179,000 after buying an additional 140 shares during the last quarter.
j2 Global, Inc. (NASDAQ:JCOM) opened at 73.02 on Friday. j2 Global, Inc. has a one year low of $62.55 and a one year high of $91.48. The stock has a 50 day moving average price of $83.30 and a 200 day moving average price of $84.49. The firm has a market capitalization of $3.53 billion, a P/E ratio of 24.46 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by $0.06. The firm had revenue of $273.20 million during the quarter, compared to the consensus estimate of $271.89 million. j2 Global had a net margin of 14.74% and a return on equity of 26.62%. The business’s revenue was up 29.0% compared to the same quarter last year. During the same period last year, the business earned $1.21 earnings per share. On average, equities analysts predict that j2 Global, Inc. will post $5.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.11%. This is a boost from j2 Global’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, August 10th. j2 Global’s dividend payout ratio (DPR) is 51.68%.
A number of equities research analysts have weighed in on JCOM shares. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Citigroup Inc. decreased their price objective on j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, August 7th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $120.00 price objective (up from $95.00) on shares of j2 Global in a report on Tuesday, May 9th. Finally, Zacks Investment Research downgraded j2 Global from a “hold” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. j2 Global presently has a consensus rating of “Hold” and a consensus price target of $100.00.
In related news, Director W Brian Kretzmer sold 1,336 shares of j2 Global stock in a transaction that occurred 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 transaction, the director now directly owns 11,607 shares of the company’s stock, valued at $1,000,523.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 123,966 shares in the company, valued at $10,643,720.76. The disclosure for this sale can be found here. Insiders sold 19,664 shares of company stock worth $1,688,040 over the last three months. 5.15% of the stock is currently owned by 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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