California Public Employees Retirement System acquired a new position in shares of Web.com Group Inc (NYSE:WEB) during the second quarter, Holdings Channel reports. The institutional investor acquired 175,200 shares of the company’s stock, valued at approximately $3,185,000. California Public Employees Retirement System owned approximately 0.35% of Web.com Group as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in WEB. Great West Life Assurance Co. Can acquired a new position in shares of Web.com Group during the second quarter worth about $125,000. Quantbot Technologies LP acquired a new position in shares of Web.com Group during the second quarter worth about $155,000. ClariVest Asset Management LLC acquired a new position in shares of Web.com Group during the second quarter worth about $165,000. Bank of Montreal Can acquired a new position in shares of Web.com Group during the second quarter worth about $183,000. Finally, Anchor Capital Advisors LLC acquired a new position in shares of Web.com Group during the second quarter worth about $360,000.
Web.com Group Inc (NYSE:WEB) traded down 1.45% on Monday, reaching $17.70. The company had a trading volume of 128,305 shares. The company’s 50 day moving average is $17.51 and its 200-day moving average is $18.16. The firm has a market capitalization of $872.47 million and a price-to-earnings ratio of 10.99. Web.com Group Inc has a one year low of $15.71 and a one year high of $25.00.
Web.com Group (NYSE:WEB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $194.14 million. During the same period last year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts expect that Web.com Group Inc will post $2.61 earnings per share for the current fiscal year.
A number of research firms recently weighed in on WEB. B. Riley reaffirmed a “buy” rating and set a $30.00 price target on shares of Web.com Group in a research note on Friday, August 5th. Zacks Investment Research downgraded Web.com Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 11th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $31.00 price target on shares of Web.com Group in a research note on Monday, July 18th. RBC Capital Markets reaffirmed a “hold” rating and set a $23.00 price target on shares of Web.com Group in a research note on Sunday, August 7th. Finally, Deutsche Bank AG dropped their price target on Web.com Group from $19.00 to $17.00 and set a “hold” rating on the stock in a research note on Friday, August 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $23.40.
In other news, major shareholder Opportunistic Value Fun Okumus sold 99,600 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $18.70, for a total transaction of $1,862,520.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Web.com Group Company Profile
Web.com Group, Inc provides a range of Internet services to small businesses. The Company operates through Web services and products segment. The Company offers subscription-based solutions including domains, hosting, Website design and management, search engine optimization, online marketing campaigns, local sales leads, social media, mobile products and e-commerce solutions.
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