New York State Common Retirement Fund Buys 9,218 Shares of j2 Global, Inc. (JCOM)
New York State Common Retirement Fund boosted its stake in shares of j2 Global, Inc. (NASDAQ:JCOM) by 15.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,756 shares of the technology company’s stock after buying an additional 9,218 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of j2 Global worth $5,850,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Alps Advisors Inc. lifted 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 buying an additional 15 shares during the period. First Mercantile Trust Co. lifted its holdings in j2 Global by 1.9% during 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 j2 Global by 2.0% during the 2nd quarter. World Asset Management Inc now owns 3,025 shares of the technology company’s stock worth $257,000 after buying an additional 59 shares during the period. Chase Investment Counsel Corp lifted its holdings in j2 Global by 1.3% during 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. Finally, Charter Trust Co. lifted its holdings in j2 Global by 2.0% during the 2nd quarter. Charter Trust Co. now owns 6,045 shares of the technology company’s stock worth $515,000 after buying an additional 116 shares during the period.
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Several brokerages have commented on JCOM. BidaskClub raised j2 Global from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. ValuEngine raised j2 Global from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup Inc. cut their target price on j2 Global from $89.00 to $88.00 and set a “neutral” rating on the stock in a report on Monday, August 7th. Zacks Investment Research downgraded j2 Global from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $94.00 target price on shares of j2 Global in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned 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 78.96 on Friday. The firm has a market capitalization of $3.82 billion, a P/E ratio of 26.45 and a beta of 0.94. j2 Global, Inc. has a 52 week low of $62.65 and a 52 week high of $91.48. The stock has a 50 day moving average price of $74.57 and a 200-day moving average price of $81.52.
j2 Global (NASDAQ:JCOM) last posted its earnings results on Thursday, August 3rd. The technology company reported $1.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.06). The business had revenue of $273.20 million during the quarter, compared to the consensus estimate of $271.89 million. j2 Global had a return on equity of 26.62% and a net margin of 14.74%. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 earnings per share. Analysts anticipate that j2 Global, Inc. will post $5.76 EPS for the current fiscal year.
About j2 Global
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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