Janney Montgomery Scott LLC Boosts Stake in Square, Inc. (NYSE:SQ)

Janney Montgomery Scott LLC lifted its holdings in Square, Inc. (NYSE:SQ) by 20.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,889 shares of the technology company’s stock after buying an additional 10,654 shares during the period. Janney Montgomery Scott LLC’s holdings in Square were worth $4,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Nikko Asset Management Americas Inc. increased its position in Square by 37.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 5,034,654 shares of the technology company’s stock worth $365,163,000 after purchasing an additional 1,359,963 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in Square by 67.4% during the second quarter. Stoneridge Investment Partners LLC now owns 28,303 shares of the technology company’s stock worth $2,053,000 after purchasing an additional 11,396 shares during the last quarter. Claraphi Advisory Network LLC acquired a new stake in Square during the second quarter worth about $293,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Square by 28.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,303,968 shares of the technology company’s stock worth $457,227,000 after purchasing an additional 1,410,744 shares during the last quarter. Finally, Regal Investment Advisors LLC increased its position in Square by 3.8% during the second quarter. Regal Investment Advisors LLC now owns 5,799 shares of the technology company’s stock worth $421,000 after purchasing an additional 214 shares during the last quarter. 52.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:SQ opened at $61.87 on Wednesday. The stock has a market cap of $27.77 billion, a P/E ratio of 3,093.50, a PEG ratio of 22.09 and a beta of 3.31. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. Square, Inc. has a twelve month low of $49.82 and a twelve month high of $101.15. The business’s 50 day moving average is $74.78.

Square (NYSE:SQ) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.20. The business had revenue of $563.00 million during the quarter, compared to the consensus estimate of $557.67 million. Square had a negative net margin of 1.35% and a positive return on equity of 2.65%. The company’s revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, equities research analysts expect that Square, Inc. will post 0.12 EPS for the current fiscal year.

SQ has been the subject of a number of recent analyst reports. Guggenheim reiterated a “buy” rating and set a $80.00 price target (down from $94.00) on shares of Square in a research report on Monday, August 5th. Zacks Investment Research upgraded shares of Square from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a research report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Square in a research report on Monday, August 5th. Citigroup set a $95.00 price target on shares of Square and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, ValuEngine cut shares of Square from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $84.44.

In other news, insider Jacqueline D. Reses sold 5,000 shares of Square stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $81.83, for a total value of $409,150.00. Following the transaction, the insider now directly owns 373,984 shares of the company’s stock, valued at approximately $30,603,110.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajmere Dale sold 2,296 shares of Square stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $60.86, for a total transaction of $139,734.56. Following the completion of the transaction, the insider now directly owns 79,725 shares in the company, valued at $4,852,063.50. The disclosure for this sale can be found here. Insiders sold a total of 57,249 shares of company stock worth $4,269,625 over the last ninety days. Corporate insiders own 21.79% of the company’s stock.

Square Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

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Institutional Ownership by Quarter for Square (NYSE:SQ)

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