Juniper Networks, Inc. (NYSE:JNPR) Position Increased by Fairpointe Capital LLC

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Fairpointe Capital LLC increased its holdings in Juniper Networks, Inc. (NYSE:JNPR) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,944,464 shares of the network equipment provider’s stock after purchasing an additional 112,335 shares during the quarter. Juniper Networks accounts for 3.7% of Fairpointe Capital LLC’s holdings, making the stock its 2nd biggest position. Fairpointe Capital LLC owned about 0.88% of Juniper Networks worth $72,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in shares of Juniper Networks by 0.4% in the third quarter. California State Teachers Retirement System now owns 624,843 shares of the network equipment provider’s stock worth $15,465,000 after acquiring an additional 2,540 shares in the last quarter. Pictet Asset Management Ltd. grew its position in Juniper Networks by 11.9% in the third quarter. Pictet Asset Management Ltd. now owns 612,420 shares of the network equipment provider’s stock worth $15,157,000 after acquiring an additional 65,267 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its position in Juniper Networks by 0.5% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 281,759 shares of the network equipment provider’s stock worth $6,974,000 after acquiring an additional 1,276 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Juniper Networks in the third quarter worth approximately $205,000. Finally, State Street Corp grew its position in Juniper Networks by 3.1% in the third quarter. State Street Corp now owns 15,738,452 shares of the network equipment provider’s stock worth $389,527,000 after acquiring an additional 472,153 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

JNPR has been the subject of a number of analyst reports. Oppenheimer set a $29.00 price objective on shares of Juniper Networks and gave the stock a “buy” rating in a research note on Friday, October 25th. Goldman Sachs Group set a $21.00 price objective on shares of Juniper Networks and gave the stock a “sell” rating in a research note on Friday, October 25th. Zacks Investment Research cut shares of Juniper Networks from a “hold” rating to a “sell” rating and set a $26.00 target price for the company. in a research note on Thursday, September 26th. Barclays initiated coverage on shares of Juniper Networks in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $27.00 target price for the company. Finally, ValuEngine cut shares of Juniper Networks from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.86.

NYSE:JNPR traded down $0.21 during mid-day trading on Wednesday, reaching $24.29. 6,001,401 shares of the company were exchanged, compared to its average volume of 3,434,850. The stock has a market cap of $8.39 billion, a PE ratio of 17.86, a PEG ratio of 3.49 and a beta of 0.98. The company has a fifty day moving average of $25.05 and a 200 day moving average of $25.25. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.40. Juniper Networks, Inc. has a 12 month low of $22.42 and a 12 month high of $28.77.

Juniper Networks (NYSE:JNPR) last announced its earnings results on Thursday, October 24th. The network equipment provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.15 billion. Juniper Networks had a net margin of 8.35% and a return on equity of 9.54%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. On average, equities research analysts anticipate that Juniper Networks, Inc. will post 1.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 2nd will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.76 annualized dividend and a dividend yield of 3.13%. Juniper Networks’s dividend payout ratio is presently 55.88%.

Juniper Networks announced that its board has authorized a stock buyback program on Thursday, October 24th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 11.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

In other Juniper Networks news, CFO Kenneth Bradley Miller sold 7,000 shares of Juniper Networks stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $25.13, for a total value of $175,910.00. Following the transaction, the chief financial officer now owns 70,333 shares in the company, valued at $1,767,468.29. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rami Rahim sold 2,100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.00, for a total value of $54,600.00. The disclosure for this sale can be found here. Insiders sold 100,313 shares of company stock valued at $2,541,791 over the last three months. 1.10% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Juniper Networks (NYSE:JNPR)

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