Congress Asset Management Co. Acquires 87,707 Shares of PJT Partners Inc. (NYSE:PJT)

Congress Asset Management Co. lifted its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 27.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,681 shares of the financial services provider's stock after buying an additional 87,707 shares during the quarter. Congress Asset Management Co. owned approximately 1.71% of PJT Partners worth $64,021,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. New York State Teachers Retirement System grew its position in shares of PJT Partners by 2.9% in the 4th quarter. New York State Teachers Retirement System now owns 10,999 shares of the financial services provider's stock worth $1,736,000 after buying an additional 311 shares during the period. Legato Capital Management LLC grew its position in shares of PJT Partners by 25.1% in the 4th quarter. Legato Capital Management LLC now owns 3,281 shares of the financial services provider's stock worth $518,000 after buying an additional 659 shares during the period. Alliance Wealth Advisors LLC UT purchased a new stake in shares of PJT Partners in the 4th quarter worth about $435,000. OLD National Bancorp IN grew its position in shares of PJT Partners by 25.6% in the 4th quarter. OLD National Bancorp IN now owns 2,390 shares of the financial services provider's stock worth $377,000 after buying an additional 487 shares during the period. Finally, Perigon Wealth Management LLC purchased a new stake in shares of PJT Partners in the 4th quarter worth about $219,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Stock Up 0.2 %

PJT traded up $0.40 during midday trading on Wednesday, hitting $177.66. 665,595 shares of the company traded hands, compared to its average volume of 254,690. The firm has a market capitalization of $4.21 billion, a PE ratio of 36.26 and a beta of 0.67. The company's 50-day moving average is $162.70 and its 200 day moving average is $147.21. PJT Partners Inc. has a 52 week low of $88.51 and a 52 week high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.71. The business had revenue of $477.30 million for the quarter, compared to analysts' expectations of $384.64 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The business's revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. On average, sell-side analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, March 5th. PJT Partners's dividend payout ratio is currently 20.41%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JMP Securities downgraded shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and increased their price objective for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Citizens Jmp downgraded shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $158.50.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.