Bank of New York Mellon Corp Buys Shares of 344,758 Yext $YEXT

Key Points

• Bank of New York Mellon purchased 344,758 Yext shares worth approximately $1.61 million, giving it a 0.34% stake. Institutional investors collectively own 70.98% of Yext.
• Yext insiders also increased their holdings, with directors Seth Waugh and Daniel Englander purchasing shares; insiders now own 7.80% of the company.
• Yext exceeded quarterly EPS expectations, reporting $0.21 versus the $0.17 consensus, though revenue declined 1.8% year over year. Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $6.33.

Bank of New York Mellon Corp bought a new position in Yext (NYSE:YEXT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 344,758 shares of the company's stock, valued at approximately $1,610,000. Bank of New York Mellon Corp owned about 0.34% of Yext as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Yext by 1.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,951 shares of the company's stock valued at $2,593,000 after buying an additional 4,802 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Yext in the first quarter valued at approximately $3,964,000. Creative Planning acquired a new stake in shares of Yext in the second quarter worth $109,000. Rhumbline Advisers increased its position in Yext by 2.9% during the second quarter. Rhumbline Advisers now owns 160,040 shares of the company's stock worth $1,360,000 after acquiring an additional 4,444 shares during the period. Finally, American Century Companies Inc. raised its stake in Yext by 35.9% during the 2nd quarter. American Century Companies Inc. now owns 222,726 shares of the company's stock valued at $1,893,000 after purchasing an additional 58,859 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Seth Waugh bought 133,000 shares of the company's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $3.75 per share, with a total value of $498,750.00. Following the completion of the purchase, the director owned 319,411 shares in the company, valued at approximately $1,197,791.25. The trade was a 71.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel Englander bought 76,190 shares of Yext stock in a transaction dated Monday, July 13th. The shares were bought at an average price of $5.22 per share, for a total transaction of $397,711.80. Following the completion of the transaction, the director directly owned 141,190 shares of the company's stock, valued at $737,011.80. This represents a 117.22% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 7.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on YEXT. Wall Street Zen raised Yext from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Yext in a research report on Monday, August 31st. Zacks Research downgraded shares of Yext from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 17th. B Riley reissued a "neutral" rating on shares of Yext in a report on Wednesday, September 2nd. Finally, B. Riley Financial increased their price objective on shares of Yext from $5.00 to $7.00 and gave the company a "neutral" rating in a research note on Wednesday, September 2nd. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $6.33.

Yext Stock Down 1.9%

YEXT opened at $6.39 on Wednesday. The firm has a market cap of $632.09 million, a price-to-earnings ratio of 37.56 and a beta of 1.15. The company has a debt-to-equity ratio of 4.14, a quick ratio of 0.83 and a current ratio of 0.83. The firm's 50-day simple moving average is $5.76 and its 200-day simple moving average is $4.80. Yext has a twelve month low of $3.27 and a twelve month high of $9.03.

Yext (NYSE:YEXT - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $111.10 million during the quarter, compared to the consensus estimate of $111.30 million. Yext had a net margin of 5.90% and a return on equity of 43.23%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Equities research analysts anticipate that Yext will post 0.46 EPS for the current fiscal year.

Yext Company Profile

Yext, Inc is a software-as-a-service company that provides a platform for digital knowledge management. Its core offering enables businesses to centrally manage and synchronize public-facing information—such as location details, product descriptions and service offerings—across a network of search engines, mapping services, voice assistants and third-party directories.

The Yext platform is built around a proprietary Knowledge Graph, which stores and structures data to ensure consistency and accuracy.

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