Private Ocean LLC purchased a new position in Juniper Networks, Inc. (NYSE:JNPR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,000 shares of the network equipment provider’s stock, valued at approximately $50,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. grew its stake in Juniper Networks by 18.0% in the third quarter. Daiwa Securities Group Inc. now owns 15,562 shares of the network equipment provider’s stock worth $385,000 after purchasing an additional 2,372 shares in the last quarter. Tibra Equities Europe Ltd bought a new position in Juniper Networks in the third quarter worth approximately $1,190,000. Mackay Shields LLC grew its stake in Juniper Networks by 13.0% in the third quarter. Mackay Shields LLC now owns 58,338 shares of the network equipment provider’s stock worth $1,444,000 after purchasing an additional 6,721 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Juniper Networks by 37.4% in the third quarter. IFM Investors Pty Ltd now owns 34,879 shares of the network equipment provider’s stock worth $863,000 after purchasing an additional 9,496 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Juniper Networks by 16.7% in the third quarter. Russell Investments Group Ltd. now owns 1,435,802 shares of the network equipment provider’s stock worth $35,570,000 after purchasing an additional 205,794 shares in the last quarter. Hedge funds and other institutional investors own 90.41% of the company’s stock.
Several research analysts recently issued reports on JNPR shares. Needham & Company LLC reissued a “buy” rating and issued a $29.00 price objective on shares of Juniper Networks in a research note on Friday, October 25th. Zacks Investment Research cut Juniper Networks from a “hold” rating to a “sell” rating and set a $26.00 target price on the stock. in a research report on Thursday, September 26th. Nomura dropped their target price on Juniper Networks from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Oppenheimer set a $29.00 target price on Juniper Networks and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, ValuEngine raised Juniper Networks from a “hold” rating to a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Juniper Networks presently has a consensus rating of “Hold” and an average price target of $26.13.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings data on Thursday, October 24th. The network equipment provider reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Juniper Networks had a return on equity of 9.54% and a net margin of 8.35%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. On average, research analysts predict that Juniper Networks, Inc. will post 1.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 2nd will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.90%. Juniper Networks’s payout ratio is 55.88%.
Juniper Networks declared that its Board of Directors has initiated a share buyback program on Thursday, October 24th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the network equipment provider to reacquire up to 11.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Brian Martin sold 44,154 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $25.72, for a total value of $1,135,640.88. Following the completion of the transaction, the senior vice president now owns 42,746 shares in the company, valued at approximately $1,099,427.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bikash Koley sold 32,059 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.74, for a total value of $793,139.66. Following the completion of the transaction, the executive vice president now owns 59,375 shares of the company’s stock, valued at approximately $1,468,937.50. The disclosure for this sale can be found here. Insiders sold a total of 93,213 shares of company stock valued at $2,344,691 in the last three months. Insiders own 1.10% of the company’s stock.
Juniper Networks Profile
Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers various routing products, such as ACX series universal access routers to deploy new high-bandwidth services; MX series Ethernet routers that functions as a universal edge platform; PTX series packet transport routers; cloud customer premises equipment; and NorthStar controllers.
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