DAVENPORT & Co LLC, an institutional investor, has increased its holdings in shares of ZoomInfo Technologies Inc. The company bought an additional 36,714 shares of ZoomInfo Technologies during the second quarter, resulting in a 46.7% growth in its holdings. As of the most recent filing with the SEC, DAVENPORT & Co LLC owned 115,341 shares of the company’s stock, valued at $2,929,000.
ZoomInfo Technologies (NASDAQ:ZI) recently released its quarterly earnings data on July 31st. The company reported earnings per share (EPS) of $0.16 for the quarter, surpassing the consensus estimate of $0.14 by $0.02. The return on equity for ZoomInfo Technologies was 10.22%, with a net margin of 10.32%. The business generated revenue of $308.60 million during the quarter, slightly below analysts’ expectations of $310.33 million.
Looking ahead to the current fiscal year, research analysts anticipate that ZoomInfo Technologies Inc. will post earnings per share of approximately $0.63.
It is noteworthy that DAVENPORT & Co LLC’s increased investment in ZoomInfo Technologies reflects a positive outlook on the company’s performance and future prospects.
Disclaimer: The information provided above is based on publicly available sources and should not be interpreted as financial advice or a recommendation to make any investment decisions.
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Growing Interest and Confidence in ZoomInfo Technologies: Exploring Recent Investments and Analyst Outlook
ZoomInfo Technologies (ZI) has recently seen a number of modifications to its holdings by institutional investors and hedge funds. Advisory Services Network LLC, for example, increased its stake in ZI by an astonishing 222.2% during the first quarter. Similarly, HighMark Wealth Management LLC purchased a new stake in the company during the same period. Private Trust Co. NA also increased its holdings in ZI by over 100%. Additionally, Machina Capital S.A.S. made a new investment in ZI during the first quarter. Finally, Ossiam saw a significant boost of 71.4% in its position in ZI.
This influx of interest from institutional investors and hedge funds indicates that there is growing confidence in ZoomInfo Technologies and its potential for future growth.
In terms of stock performance, shares of ZI opened at $16.16 on Tuesday, which is significantly lower than its 1-year high of $48.76. The stock’s fifty-day moving average price is currently $18.37, while its 200-day moving average price stands at $22.19.
It’s worth noting that ZoomInfo Technologies has a market cap of $6.49 billion and a price-to-earnings ratio of 53.87, suggesting that it may be an attractive investment opportunity for those seeking long-term returns.
In other news related to ZoomInfo Technologies, CFO Peter Cameron Hyzer recently sold 10,000 shares of the company’s stock at an average price of $25.46 per share, amounting to a total value of $254,600. Following this sale, Hyzer now holds 1,185,565 shares directly in the company.
Similarly, CTO Ali Dasdan sold 11,977 shares at an average price of $17.27 per share on September 14th and now holds 35,929 shares directly in the company.
This recent activity by company insiders suggests that there may be some changes on the horizon for ZoomInfo Technologies.
ZI has also received attention from analysts. Mizuho dropped its target price from $36.00 to $30.00 but maintained a “buy” rating for the company. DA Davidson, on the other hand, dropped its target price from $34.00 to $25.00.
TheStreet upgraded ZoomInfo Technologies from a “d” rating to a “c” rating, indicating moderate optimism about the stock’s potential.
Overall, ZI currently has a total of seven hold ratings and twelve buy ratings from analysts, with an average price target of approximately $26.35 according to Bloomberg.com.
Based on these recent developments and analyst opinions, it is clear that ZoomInfo Technologies is generating interest and confidence in the investment community. However, investors should exercise caution and conduct thorough research before making any investment decisions regarding ZI stock.