New York State Common Retirement Fund trimmed its holdings in j2 Global, Inc. (NASDAQ:JCOM) by 16.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,500 shares of the technology company’s stock after selling 11,256 shares during the period. New York State Common Retirement Fund owned 0.12% of j2 Global worth $4,248,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of 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 purchasing an additional 241 shares during the period. Advisor Group Inc. grew its holdings in shares of j2 Global by 1.7% in the second quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock valued at $195,000 after purchasing an additional 43 shares during the period. Parametrica Management Ltd purchased a new stake in shares of j2 Global in the third quarter valued at about $229,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of j2 Global in the third quarter valued at about $250,000. Finally, BB&T Securities LLC grew its holdings in shares of j2 Global by 8.4% in the second quarter. BB&T Securities LLC now owns 3,184 shares of the technology company’s stock valued at $270,000 after purchasing an additional 246 shares during the period.
Several brokerages have weighed in on JCOM. Zacks Investment Research raised shares of j2 Global from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. BidaskClub lowered shares of j2 Global from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. ValuEngine raised shares of j2 Global from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $94.00 target price on shares of j2 Global in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $101.75.
j2 Global, Inc. (NASDAQ JCOM) opened at $74.41 on Wednesday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 1.02. j2 Global, Inc. has a 12 month low of $71.09 and a 12 month high of $91.48. The company has a market cap of $3,600.00, a P/E ratio of 27.56 and a beta of 0.87.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $1.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.02). j2 Global had a net margin of 12.60% and a return on equity of 26.43%. The business had revenue of $273.60 million during the quarter, compared to analysts’ expectations of $272.84 million. During the same period in the previous year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. sell-side analysts expect that j2 Global, Inc. will post 5.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were paid a $0.395 dividend. This is a positive change from j2 Global’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, November 16th. This represents a $1.58 annualized dividend and a dividend yield of 2.12%. j2 Global’s dividend payout ratio (DPR) is presently 58.52%.
TRADEMARK VIOLATION NOTICE: This article was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://sportsperspectives.com/2017/12/27/new-york-state-common-retirement-fund-sells-11256-shares-of-j2-global-inc-jcom.html.
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).
Want to see what other hedge funds are holding JCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for j2 Global, Inc. (NASDAQ:JCOM).
Receive News & Ratings for j2 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for j2 Global and related companies with MarketBeat.com's FREE daily email newsletter.