Intech Investment Management LLC Purchases New Holdings in Shutterstock, Inc. (NYSE:SSTK)

Intech Investment Management LLC purchased a new stake in shares of Shutterstock, Inc. (NYSE:SSTK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,981 shares of the business services provider’s stock, valued at approximately $388,000.

A number of other large investors have also bought and sold shares of the business. The Manufacturers Life Insurance Company grew its position in Shutterstock by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock worth $487,000 after acquiring an additional 309 shares during the last quarter. Cascade Investment Advisors Inc. lifted its stake in shares of Shutterstock by 1.2% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 27,430 shares of the business services provider’s stock valued at $970,000 after purchasing an additional 315 shares during the period. Covestor Ltd increased its position in shares of Shutterstock by 9.5% in the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after buying an additional 397 shares in the last quarter. Palouse Capital Management Inc. increased its position in shares of 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 in the last quarter. Finally, Quest Partners LLC increased its position in shares of 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 in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Trading Down 0.9 %

Shares of SSTK stock opened at $32.74 on Wednesday. The firm has a 50 day moving average price of $31.78 and a two-hundred day moving average price of $35.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.14 billion, a PE ratio of 32.10 and a beta of 1.08. Shutterstock, Inc. has a 12-month low of $28.85 and a 12-month high of $54.40.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. As a group, analysts predict that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.67%. Shutterstock’s payout ratio is 117.65%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SSTK shares. Truist Financial lowered their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 21st. StockNews.com downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th.

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.