Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC grew its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 666,348 shares of the business services provider's stock after purchasing an additional 118,828 shares during the period. Rice Hall James & Associates LLC owned approximately 1.91% of Shutterstock worth $12,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Shutterstock by 93.8% in the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after buying an additional 876 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in shares of Shutterstock by 18.5% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 15,906 shares of the business services provider's stock valued at $296,000 after buying an additional 2,482 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Shutterstock by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 152,272 shares of the business services provider's stock valued at $2,837,000 after buying an additional 3,233 shares during the period. KBC Group NV raised its holdings in shares of Shutterstock by 1.4% in the 1st quarter. KBC Group NV now owns 67,003 shares of the business services provider's stock valued at $1,248,000 after buying an additional 934 shares during the period. Finally, Boston Trust Walden Corp raised its holdings in shares of Shutterstock by 1.2% in the 1st quarter. Boston Trust Walden Corp now owns 557,583 shares of the business services provider's stock valued at $10,388,000 after buying an additional 6,866 shares during the period. Hedge funds and other institutional investors own 82.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SSTK shares. Needham & Company LLC cut their price target on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Wall Street Zen upgraded Shutterstock to a "hold" rating in a report on Saturday, June 14th. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.67.

Shutterstock Stock Up 0.8%

NYSE SSTK traded up $0.15 during trading hours on Thursday, hitting $18.53. 217,527 shares of the company were exchanged, compared to its average volume of 496,323. The company has a 50 day moving average of $18.73 and a two-hundred day moving average of $21.48. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $46.10. The firm has a market cap of $653.18 million, a price-to-earnings ratio of 17.00 and a beta of 1.15.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.23). The business had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a return on equity of 17.70% and a net margin of 4.00%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. Equities research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.32 annualized dividend and a dividend yield of 7.12%. Shutterstock's dividend payout ratio is currently 121.10%.

Shutterstock 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.