Epoch Investment Partners Inc. Increases Position in Shutterstock, Inc. (NYSE:SSTK)

Epoch Investment Partners Inc. lifted its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 22.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,085,539 shares of the business services provider’s stock after buying an additional 201,391 shares during the quarter. Epoch Investment Partners Inc. owned approximately 3.06% of Shutterstock worth $42,010,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quantbot Technologies LP raised its holdings in Shutterstock by 2,203.3% during the first quarter. Quantbot Technologies LP now owns 23,010 shares of the business services provider’s stock valued at $1,054,000 after acquiring an additional 22,011 shares during the period. TD Asset Management Inc lifted its holdings in Shutterstock by 469.3% in the 4th quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock worth $43,761,000 after purchasing an additional 747,180 shares in the last quarter. Trigran Investments Inc. boosted its stake in Shutterstock by 15.5% in the 4th quarter. Trigran Investments Inc. now owns 1,214,726 shares of the business services provider’s stock worth $58,647,000 after purchasing an additional 163,268 shares during the period. BOKF NA purchased a new stake in Shutterstock during the 1st quarter valued at approximately $139,000. Finally, Russell Investments Group Ltd. raised its position in shares of Shutterstock by 9.9% during the first quarter. Russell Investments Group Ltd. now owns 176,267 shares of the business services provider’s stock valued at $8,075,000 after buying an additional 15,900 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analysts Forecast Growth

SSTK has been the subject of several research analyst reports. StockNews.com cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Sunday. Morgan Stanley raised their price objective on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th.

Shutterstock Stock Performance

Shares of SSTK opened at $35.33 on Monday. The stock has a market capitalization of $1.27 billion, a PE ratio of 13.69 and a beta of 1.09. The company’s fifty day moving average is $37.08 and its 200 day moving average is $39.97. Shutterstock, Inc. has a fifty-two week low of $32.38 and a fifty-two week high of $54.40.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). Shutterstock had a return on equity of 20.45% and a net margin of 5.33%. The business had revenue of $220.05 million during the quarter, compared to the consensus estimate of $213.44 million. During the same quarter last year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Shutterstock, Inc. will post 3.22 earnings per share for the current 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 paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Thursday, August 29th. Shutterstock’s payout ratio is 46.51%.

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.