Sei Investments Co. Has $1.77 Million Holdings in Shutterstock, Inc. (NYSE:SSTK)

Sei Investments Co. increased its holdings in Shutterstock, Inc. (NYSE:SSTK) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,680 shares of the business services provider’s stock after acquiring an additional 1,466 shares during the period. Sei Investments Co.’s holdings in Shutterstock were worth $1,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SSTK. Texas Permanent School Fund Corp increased its stake in Shutterstock by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 20,941 shares of the business services provider’s stock valued at $959,000 after buying an additional 271 shares during the last quarter. ProShare Advisors LLC increased its stake in Shutterstock by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider’s stock valued at $227,000 after buying an additional 342 shares during the last quarter. Palouse Capital Management Inc. increased its stake in Shutterstock by 20.7% in the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after buying an additional 665 shares during the last quarter. Quest Partners LLC increased its stake in Shutterstock by 17.9% in the 2nd quarter. Quest Partners LLC now owns 5,406 shares of the business services provider’s stock valued at $209,000 after buying an additional 822 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Shutterstock by 69.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after acquiring an additional 838 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Up 2.6 %

SSTK opened at $32.70 on Friday. The company has a 50 day moving average of $35.62 and a 200 day moving average of $38.96. The company has a market cap of $1.16 billion, a PE ratio of 12.67 and a beta of 1.09. Shutterstock, Inc. has a 12 month low of $31.30 and a 12 month high of $54.40.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The firm had revenue of $220.05 million during the quarter, compared to the consensus estimate of $213.44 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that Shutterstock, Inc. will post 2.99 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 29th. Shutterstock’s dividend payout ratio (DPR) is currently 46.51%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SSTK. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Shutterstock in a research report on Tuesday, August 6th. StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Finally, Morgan Stanley increased their target price on shares of Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.