Ameriprise Financial Inc. Lowers Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Ameriprise Financial Inc. reduced its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 74.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 352,449 shares of the company's stock after selling 1,033,704 shares during the quarter. Ameriprise Financial Inc. owned about 0.10% of ZoomInfo Technologies worth $3,704,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of ZoomInfo Technologies by 47.8% in the fourth quarter. Fifth Third Bancorp now owns 3,836 shares of the company's stock worth $40,000 after purchasing an additional 1,241 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ZoomInfo Technologies by 343.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,115 shares of the company's stock worth $64,000 after purchasing an additional 4,735 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in shares of ZoomInfo Technologies by 183.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 8,441 shares of the company's stock worth $89,000 after purchasing an additional 5,468 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in shares of ZoomInfo Technologies in the fourth quarter worth approximately $107,000. Finally, Magnetar Financial LLC purchased a new stake in shares of ZoomInfo Technologies in the fourth quarter worth approximately $125,000. 95.47% of the stock is owned by institutional investors and hedge funds.

ZoomInfo Technologies Stock Performance

Shares of NASDAQ:ZI traded up $0.23 during trading on Friday, hitting $9.55. 5,613,932 shares of the company were exchanged, compared to its average volume of 7,393,437. The company has a market cap of $3.27 billion, a PE ratio of 318.44, a P/E/G ratio of 13.05 and a beta of 1.02. The stock has a 50 day moving average of $9.03 and a 200 day moving average of $10.03. ZoomInfo Technologies Inc. has a 52-week low of $7.01 and a 52-week high of $13.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $305.70 million for the quarter, compared to the consensus estimate of $295.60 million. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 earnings per share. As a group, equities research analysts predict that ZoomInfo Technologies Inc. will post 0.59 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ZI. Barclays increased their price objective on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Stifel Nicolaus upped their target price on ZoomInfo Technologies from $13.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their target price on ZoomInfo Technologies from $14.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Morgan Stanley reduced their target price on ZoomInfo Technologies from $13.00 to $10.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Mizuho reduced their target price on 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 assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.63.

About ZoomInfo Technologies

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.