Employees Retirement System of Texas maintained its position in shares of j2 Global, Inc. (NASDAQ:JCOM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,000 shares of the technology company’s stock at the close of the 2nd quarter. Employees Retirement System of Texas’ holdings in j2 Global were worth $1,787,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JCOM. Fifth Third Bancorp boosted its holdings in shares of j2 Global by 14.8% in the 1st quarter. Fifth Third Bancorp now owns 1,444 shares of the technology company’s stock valued at $121,000 after buying an additional 186 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of j2 Global by 15.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,757 shares of the technology company’s stock valued at $150,000 after buying an additional 241 shares during the last quarter. First Mercantile Trust Co. boosted 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 valued at $183,000 after buying an additional 40 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of j2 Global by 1.7% in the 2nd quarter. Advisor Group Inc. now owns 2,535 shares of the technology company’s stock valued at $195,000 after buying an additional 43 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of j2 Global in the 1st quarter valued at approximately $206,000.
Shares of j2 Global, Inc. (NASDAQ JCOM) opened at 78.50 on Friday. The company has a 50-day moving average price of $74.40 and a 200-day moving average price of $81.55. j2 Global, Inc. has a 1-year low of $62.55 and a 1-year high of $91.48. The company has a market cap of $3.79 billion, a PE ratio of 26.30 and a beta of 0.94.
j2 Global (NASDAQ:JCOM) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $1.25 earnings per share 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 analysts’ expectations of $271.89 million. During the same period in the prior year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. Equities research analysts expect that j2 Global, Inc. will post $5.76 earnings per share for the current fiscal year.
JCOM has been the subject of several recent analyst reports. Robert W. Baird reissued a “buy” rating and issued a $94.00 price objective on shares of j2 Global in a report on Friday, September 1st. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Citigroup Inc. cut their price objective on j2 Global from $89.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, August 7th. ValuEngine downgraded j2 Global from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised j2 Global from a “sell” rating to a “hold” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $101.75.
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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