Sei Investments Co. Acquires 1,466 Shares of Shutterstock, Inc. (NYSE:SSTK)

Sei Investments Co. increased its holdings in Shutterstock, Inc. (NYSE:SSTK) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,680 shares of the business services provider’s stock after purchasing an additional 1,466 shares during the quarter. Sei Investments Co. owned approximately 0.13% of Shutterstock worth $1,768,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Shutterstock by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock worth $134,048,000 after purchasing an additional 47,929 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Shutterstock by 13.7% in the second quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock worth $69,425,000 after purchasing an additional 215,539 shares during the last quarter. LSV Asset Management grew its stake in shares of Shutterstock by 30.9% in the first quarter. LSV Asset Management now owns 1,793,785 shares of the business services provider’s stock worth $82,173,000 after purchasing an additional 422,942 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Shutterstock by 68.8% in the first quarter. Epoch Investment Partners Inc. now owns 884,148 shares of the business services provider’s stock worth $40,503,000 after purchasing an additional 360,415 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Shutterstock by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock worth $33,648,000 after purchasing an additional 34,243 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on SSTK shares. StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Shutterstock in a research report on Tuesday, August 6th. Finally, Morgan Stanley upped their price target 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 Trading Up 2.6 %

Shares of SSTK opened at $32.70 on Friday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 12.67 and a beta of 1.09. The firm’s fifty day simple moving average is $35.62 and its two-hundred day simple moving average is $38.96. 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 data on Tuesday, August 6th. The business services provider reported $1.00 earnings per share 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 company had revenue of $220.05 million for the quarter, compared to analyst estimates of $213.44 million. During the same quarter in the prior year, the company posted $0.76 EPS. Shutterstock’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that Shutterstock, Inc. will post 2.99 EPS 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 issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. Shutterstock’s dividend payout ratio is currently 46.51%.

About Shutterstock

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.