Fairpointe Capital buys $168.4 Million stake in Juniper Networks (JNPR)

Juniper Networks (JNPR) : Fairpointe Capital scooped up 154,126 additional shares in Juniper Networks during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 7,400,839 shares of Juniper Networks which is valued at $168.4 Million.Juniper Networks makes up approximately 3.65% of Fairpointe Capital’s portfolio.

Other Hedge Funds, Including , Citadel Advisors boosted its stake in JNPR in the latest quarter, The investment management firm added 49,163 additional shares and now holds a total of 103,549 shares of Juniper Networks which is valued at $2.4 Million. Juniper Networks makes up approx 0.01% of Citadel Advisors’s portfolio. Ipswich Investment Management added JNPR to its portfolio by purchasing 100 company shares during the most recent quarter which is valued at $2,275.Cibc Asset Management Inc reduced its stake in JNPR by selling 159 shares or 0.36% in the most recent quarter. The Hedge Fund company now holds 44,529 shares of JNPR which is valued at $1 Million. Juniper Networks makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.Harel Insurance Investments Financial Services Ltd. reduced its stake in JNPR by selling 1,500 shares or 32.05% in the most recent quarter. The Hedge Fund company now holds 3,180 shares of JNPR which is valued at $72,091. Juniper Networks makes up approx 0.01% of Harel Insurance Investments Financial Services Ltd.’s portfolio.

Juniper Networks opened for trading at $22.91 and hit $23.19 on the upside on Wednesday, eventually ending the session at $23.06, with a gain of 0.70% or 0.16 points. The heightened volatility saw the trading volume jump to 22,67,386 shares. Company has a market cap of $8,854 M.

On the company’s financial health, Juniper Networks reported $0.37 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.38. The company had revenue of $1098.00 million for the quarter, compared to analysts expectations of $1112.71 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on Juniper Networks. Shares were Reiterated by RBC Capital Mkts on Apr 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 24 from a previous price target of $26 .Shares were Reiterated by Stifel on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 28 from a previous price target of $34 .Shares were Reiterated by MKM Partners on Apr 12, 2016 to “Neutral” and Lowered the Price Target to $ 26 from a previous price target of $27 .

Juniper Networks Inc. designs develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in more than 100 countries in three geographic regions: Americas; Europe Middle East and Africa (EMEA) and Asia Pacific (APAC). The Company sells its network products and service offerings across routing switching and security. In addition to its products the Company offers its customers worldwide services including technical support professional services education and training programs. The Company’s routing products include ACX Series MX Series M Series PTX Series and T Series. Its switching products include EX Series and QFX Series. The Company’s security products include SRX Series Services Gateways for the data center and SRX Series Gateways for the campus and branch. Its Junos Platform includes a range of products such as Junos OS Junos Space and Contrail.

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