Rhumbline Advisers Cuts Stock Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Rhumbline Advisers lessened its holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI) by 2.7% during the first quarter, HoldingsChannel.com reports. The fund owned 757,194 shares of the company’s stock after selling 21,129 shares during the quarter. Rhumbline Advisers’ holdings in ZoomInfo Technologies were worth $7,572,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in ZoomInfo Technologies during the 4th quarter worth $329,000. Summit Trail Advisors LLC increased its stake in ZoomInfo Technologies by 30.6% during the 4th quarter. Summit Trail Advisors LLC now owns 26,394 shares of the company’s stock worth $277,000 after buying an additional 6,177 shares during the period. Blue Trust Inc. increased its stake in ZoomInfo Technologies by 8,412.3% during the 4th quarter. Blue Trust Inc. now owns 16,599 shares of the company’s stock worth $174,000 after buying an additional 16,404 shares during the period. State of New Jersey Common Pension Fund D increased its stake in ZoomInfo Technologies by 4.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 212,037 shares of the company’s stock worth $2,229,000 after buying an additional 9,631 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in ZoomInfo Technologies during the 4th quarter worth $2,320,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Trading Up 2.4%

NASDAQ ZI opened at $10.15 on Wednesday. ZoomInfo Technologies Inc. has a one year low of $7.01 and a one year high of $13.39. The company has a 50-day simple moving average of $9.01 and a 200-day simple moving average of $10.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $3.47 billion, a PE ratio of 338.45, a price-to-earnings-growth ratio of 13.05 and a beta of 1.02.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The business had revenue of $305.70 million during the quarter, compared to analyst estimates of $295.60 million. During the same period in the previous year, the business posted $0.26 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that ZoomInfo Technologies Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of ZoomInfo Technologies from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on shares of ZoomInfo Technologies from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler raised their price objective on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Mizuho decreased their price objective on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.63.

ZoomInfo Technologies Profile

ZoomInfo Technologies Inc, together with its subsidiaries, provides go-to-market intelligence and engagement platform for sales and marketing teams in the United States and internationally. The company's cloud-based platform provides information on organizations and professionals to help users identify target customers and decision makers, obtain continually updated predictive lead and company scoring, monitor buying signals and other attributes of target companies, craft messages, engage through automated sales tools, and track progress through the deal cycle.