State Board of Administration of Florida Retirement System held its position in shares of Web.com Group, Inc. (NASDAQ:WEB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,681 shares of the information services provider’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System owned 0.08% of Web.com Group worth $727,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. LSV Asset Management bought a new position in Web.comGroup during the first quarter valued at approximately $111,000. Ellington Management Group LLC bought a new position in Web.com Group during the fourth quarter valued at approximately $201,000. Acadian Asset Management LLC bought a new position in Web.com Group during the first quarter valued at approximately $234,000. Wedge Capital Management L L P NC boosted its stake in shares of Web.com Group by 14.7% in the first quarter. Wedge Capital Management L L P NC now owns 13,387 shares of the information services provider’s stock worth $258,000 after buying an additional 1,716 shares during the last quarter. Finally, First Midwest Bank Trust Division boosted its stake in shares of Web.com Group by 3.6% in the first quarter. First Midwest Bank Trust Division now owns 24,639 shares of the information services provider’s stock worth $476,000 after buying an additional 860 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.
Web.com Group, Inc. (WEB) opened at 25.30 on Friday. Web.com Group, Inc. has a 12-month low of $12.90 and a 12-month high of $25.55. The company has a market cap of $1.24 billion, a PE ratio of 126.50 and a beta of 1.03. The stock has a 50 day moving average of $22.72 and a 200-day moving average of $20.36.
Web.com Group (NASDAQ:WEB) last announced its quarterly earnings data on Thursday, May 4th. The information services provider reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.54. Web.com Group had a net margin of 1.35% and a return on equity of 39.79%. The company had revenue of $186.80 million during the quarter, compared to the consensus estimate of $182.86 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts anticipate that Web.com Group, Inc. will post $2.92 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on WEB. B. Riley reissued a “buy” rating and issued a $24.00 target price on shares ofWeb.com Group in a research report on Wednesday, May 10th. Barclays PLC began coverage on shares of Web.com Group in a research report on Tuesday, March 28th. They issued an “equal weight” rating and a $22.00 target price for the company. Zacks Investment Research cut shares ofWeb.com Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Cantor Fitzgerald raised shares of Web.com Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $24.00 in a research report on Friday, May 5th. Finally, ValuEngine cut shares of Web.com Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock.Web.com Group presently has a consensus rating of “Hold” and an average price target of $21.86.
In other news, insider Roseann Duran sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $23.04, for a total transaction of $230,400.00. Following the transaction, the insider now directly owns 35,500 shares of the company’s stock, valued at $817,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.51% of the stock is currently owned by insiders.
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