Eagle Asset Management Inc. Increases Holdings in Square, Inc. (NYSE:SQ)

Eagle Asset Management Inc. grew its holdings in Square, Inc. (NYSE:SQ) by 44.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,051,147 shares of the technology company’s stock after acquiring an additional 321,803 shares during the period. Eagle Asset Management Inc.’s holdings in Square were worth $65,118,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Glynn Capital Management LLC increased its holdings in shares of Square by 4.5% in the third quarter. Glynn Capital Management LLC now owns 313,962 shares of the technology company’s stock worth $19,450,000 after purchasing an additional 13,627 shares during the last quarter. Alps Advisors Inc. increased its holdings in shares of Square by 23.1% in the third quarter. Alps Advisors Inc. now owns 11,941 shares of the technology company’s stock worth $740,000 after purchasing an additional 2,244 shares during the last quarter. CNB Bank increased its holdings in shares of Square by 449.6% in the third quarter. CNB Bank now owns 1,297 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,061 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Square by 89.3% in the third quarter. Daiwa Securities Group Inc. now owns 65,810 shares of the technology company’s stock worth $4,076,000 after purchasing an additional 31,051 shares during the last quarter. Finally, Keybank National Association OH increased its holdings in shares of Square by 0.6% in the third quarter. Keybank National Association OH now owns 325,908 shares of the technology company’s stock worth $20,190,000 after purchasing an additional 1,811 shares during the last quarter. Institutional investors and hedge funds own 56.54% of the company’s stock.

Shares of NYSE:SQ opened at $62.45 on Friday. Square, Inc. has a 1 year low of $49.82 and a 1 year high of $83.20. The business has a 50 day simple moving average of $61.29 and a two-hundred day simple moving average of $66.91. The firm has a market capitalization of $26.08 billion, a PE ratio of 3,122.50, a price-to-earnings-growth ratio of 21.95 and a beta of 3.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 1.49.

Square (NYSE:SQ) last announced its earnings results on Wednesday, November 6th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Square had a positive return on equity of 2.65% and a negative net margin of 1.35%. The business had revenue of $602.00 million during the quarter, compared to analyst estimates of $596.85 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The company’s revenue for the quarter was up 39.7% compared to the same quarter last year. Equities research analysts expect that Square, Inc. will post 0.11 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their target price on Square to $78.00 and set a “market perform” rating on the stock in a report on Friday. Craig Hallum raised Square from a “sell” rating to a “hold” rating and lifted their target price for the stock from $55.00 to $63.00 in a report on Wednesday, September 18th. Wells Fargo & Co raised Square from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, September 26th. Susquehanna Bancshares raised Square from a “neutral” rating to a “positive” rating and set a $77.00 target price on the stock in a report on Friday, October 11th. Finally, Atlantic Securities assumed coverage on Square in a report on Tuesday, September 3rd. They issued an “underweight” rating and a $55.00 target price on the stock. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $72.82.

In related news, CAO Ajmere Dale sold 2,048 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $62.47, for a total value of $127,938.56. Following the completion of the sale, the chief accounting officer now owns 64,050 shares in the company, valued at $4,001,203.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alyssa Henry sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $60.26, for a total value of $1,205,200.00. Following the completion of the sale, the insider now owns 442,168 shares of the company’s stock, valued at approximately $26,645,043.68. The disclosure for this sale can be found here. Insiders have sold 42,048 shares of company stock valued at $2,570,339 in the last 90 days. Company 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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