Monotype Imaging (TYPE) Given a $20.00 Price Target by JPMorgan Chase & Co. Analysts

JPMorgan Chase & Co. set a $20.00 price objective on Monotype Imaging (NASDAQ:TYPE) in a research report released on Friday morning, Stock Target Advisor reports. The firm currently has a hold rating on the software maker’s stock.

Several other brokerages have also weighed in on TYPE. ValuEngine upgraded Monotype Imaging from a sell rating to a hold rating in a report on Monday, April 1st. TheStreet upgraded Monotype Imaging from a c+ rating to a b- rating in a report on Friday, March 8th. BidaskClub upgraded Monotype Imaging from a hold rating to a buy rating in a report on Thursday, February 28th. Finally, Zacks Investment Research lowered Monotype Imaging from a buy rating to a hold rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $23.67.

Shares of Monotype Imaging stock opened at $17.54 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $727.00 million, a PE ratio of 22.49 and a beta of 1.09. Monotype Imaging has a fifty-two week low of $15.29 and a fifty-two week high of $24.60.

Monotype Imaging (NASDAQ:TYPE) last announced its quarterly earnings data on Friday, April 26th. The software maker reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The business had revenue of $51.36 million during the quarter, compared to analyst estimates of $57.84 million. Monotype Imaging had a return on equity of 9.70% and a net margin of 4.89%. The company’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Equities analysts anticipate that Monotype Imaging will post 0.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Monday, April 1st were issued a $0.116 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.46 annualized dividend and a dividend yield of 2.65%. Monotype Imaging’s dividend payout ratio (DPR) is 58.97%.

In other news, EVP Benjamin W.L. Semmes III sold 8,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.00, for a total value of $168,000.00. Following the completion of the sale, the executive vice president now owns 170,820 shares in the company, valued at $3,587,220. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TYPE. Bank of New York Mellon Corp lifted its holdings in shares of Monotype Imaging by 7.3% during the third quarter. Bank of New York Mellon Corp now owns 625,656 shares of the software maker’s stock valued at $12,639,000 after purchasing an additional 42,740 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Monotype Imaging by 11.4% during the third quarter. Martingale Asset Management L P now owns 151,234 shares of the software maker’s stock valued at $3,055,000 after purchasing an additional 15,514 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Monotype Imaging by 3.4% during the third quarter. BlackRock Inc. now owns 6,020,209 shares of the software maker’s stock valued at $121,608,000 after purchasing an additional 200,270 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Monotype Imaging by 7.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,513,081 shares of the software maker’s stock valued at $30,564,000 after purchasing an additional 109,718 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Monotype Imaging by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 164,265 shares of the software maker’s stock valued at $3,318,000 after purchasing an additional 16,191 shares during the last quarter. 91.74% of the stock is owned by institutional investors and hedge funds.

About Monotype Imaging

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its e-commerce Websites, including myfonts.com, fonts.com, fontshop.com, and linotype.com.

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