State Board of Administration of Florida Retirement System Purchased 260 Shares of J2 Global Inc (JCOM)

State Board of Administration of Florida Retirement System Purchased 260 Shares of J2 Global Inc (JCOM)

State Board of Administration of Florida Retirement System raised its stake in J2 Global Inc (NASDAQ:JCOM) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,191 shares of the technology company’s stock after buying an additional 260 shares during the period. State Board of Administration of Florida Retirement System’s holdings in J2 Global were worth $1,862,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of JCOM. FMR LLC increased its position in shares of J2 Global by 15.6% in the fourth quarter. FMR LLC now owns 5,039,959 shares of the technology company’s stock valued at $412,269,000 after buying an additional 679,109 shares in the last quarter. Edge Asset Management Inc. increased its position in shares of J2 Global by 12.9% in the fourth quarter. Edge Asset Management Inc. now owns 846,717 shares of the technology company’s stock valued at $69,261,000 after buying an additional 96,474 shares in the last quarter. Cardinal Capital Management LLC CT increased its position in shares of J2 Global by 4.8% in the fourth quarter. Cardinal Capital Management LLC CT now owns 654,924 shares of the technology company’s stock valued at $53,572,000 after buying an additional 29,782 shares in the last quarter. Norges Bank acquired a new position in shares of J2 Global during the fourth quarter valued at about $51,414,000. Finally, Janus Capital Management LLC increased its position in shares of J2 Global by 21.3% in the fourth quarter. Janus Capital Management LLC now owns 615,821 shares of the technology company’s stock valued at $50,374,000 after buying an additional 108,093 shares in the last quarter.

Shares of J2 Global Inc (NASDAQ:JCOM) opened at 87.32 on Friday. J2 Global Inc has a 52-week low of $60.00 and a 52-week high of $91.48. The firm has a market capitalization of $4.21 billion, a P/E ratio of 28.75 and a beta of 1.07. The firm has a 50-day moving average price of $86.19 and a 200-day moving average price of $83.15.

J2 Global (NASDAQ:JCOM) last issued its quarterly earnings results on Monday, May 8th. The technology company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.07. The company had revenue of $254.70 million during the quarter, compared to analyst estimates of $258.15 million. J2 Global had a net margin of 17.44% and a return on equity of 25.99%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. On average, equities research analysts anticipate that J2 Global Inc will post $5.84 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Friday, May 19th were issued a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from J2 Global’s previous quarterly dividend of $0.37. J2 Global’s dividend payout ratio (DPR) is currently 45.37%.

JCOM has been the subject of a number of research analyst reports. JMP Securities upped their target price on J2 Global from $96.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $120.00 target price (up from $95.00) on shares of J2 Global in a research report on Tuesday, May 9th. Finally, Zacks Investment Research upgraded J2 Global from a “sell” rating to a “strong-buy” rating and set a $96.00 target price for the company in a research report on Friday, February 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $97.00.

In related news, Director Robert J. Cresci sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $88.67, for a total value of $798,030.00. Following the completion of the sale, the director now owns 84,569 shares of the company’s stock, valued at $7,498,733.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jeremy Rossen sold 1,094 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $88.65, for a total transaction of $96,983.10. Following the completion of the sale, the vice president now directly owns 31,466 shares of the company’s stock, valued at approximately $2,789,460.90. The disclosure for this sale can be found here. In the last three months, insiders sold 20,898 shares of company stock valued at $1,819,337. 5.11% of the stock is currently owned by company 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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:JCOM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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