Bank of America Corp DE Reduces Holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Bank of America Corp DE reduced its holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 32.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 549,186 shares of the company's stock after selling 258,871 shares during the quarter. Bank of America Corp DE owned 0.16% of ZoomInfo Technologies worth $5,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ZI. Fifth Third Bancorp grew its position in 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 acquiring an additional 1,241 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of ZoomInfo Technologies by 343.1% in the 4th 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 in the last quarter. SRS Capital Advisors Inc. increased its position in shares of ZoomInfo Technologies by 183.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 8,441 shares of the company's stock valued at $89,000 after purchasing an additional 5,468 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new position in shares of ZoomInfo Technologies during the 4th quarter valued at about $107,000. Finally, Magnetar Financial LLC purchased a new position in shares of ZoomInfo Technologies during the 4th quarter valued at about $125,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

ZoomInfo Technologies Trading Down 2.1%

Shares of NASDAQ:ZI traded down $0.20 on Friday, hitting $9.32. The company had a trading volume of 10,616,093 shares, compared to its average volume of 7,373,148. The firm's 50-day simple moving average is $9.07 and its two-hundred day simple moving average is $10.05. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 310.77, a P/E/G ratio of 13.05 and a beta of 1.02. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies Inc. has a 1 year low of $7.01 and a 1 year high of $13.39.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. The company had revenue of $305.70 million during the quarter, compared to analysts' expectations of $295.60 million. During the same quarter last year, the business posted $0.26 EPS. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ZI shares. Canaccord Genuity Group increased their price target on shares of ZoomInfo Technologies from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 target price on shares of ZoomInfo Technologies in a report on Wednesday, February 26th. Wells Fargo & Company boosted their price target on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Scotiabank raised their price objective on ZoomInfo Technologies from $10.30 to $11.00 and gave the company a "sector perform" rating in a research note on Thursday, February 27th. Finally, Piper Sandler boosted their target price on ZoomInfo Technologies from $8.00 to $11.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. 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's stock. According to data from MarketBeat, ZoomInfo Technologies presently has an average rating of "Hold" and an average price target 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.