Federated Hermes Inc. Acquires 138,309 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Key Points

• Federated Hermes Inc. increased its holdings in ZoomInfo Technologies by 15.8% during the first quarter, owning over 1 million shares valued at approximately $10.15 million.
• In the fourth quarter, multiple institutional investors, including Deutsche Bank AG and Jericho Capital Asset Management, made significant acquisitions in ZoomInfo, showcasing growing interest in the company's stock.
• ZoomInfo's recent earnings report revealed an EPS of $0.23, slightly beating estimates, but its revenue decreased by 1.4% year-over-year, indicating potential challenges ahead.

Federated Hermes Inc. lifted its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 15.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,015,127 shares of the company's stock after acquiring an additional 138,309 shares during the quarter. Federated Hermes Inc. owned approximately 0.30% of ZoomInfo Technologies worth $10,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Sei Investments Co. increased its stake in ZoomInfo Technologies by 419.0% during the 4th quarter. Sei Investments Co. now owns 181,692 shares of the company's stock worth $1,910,000 after purchasing an additional 146,681 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of ZoomInfo Technologies by 35.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,089,358 shares of the company's stock worth $63,999,000 after purchasing an additional 1,591,960 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of ZoomInfo Technologies by 983.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 112,602 shares of the company's stock valued at $1,126,000 after acquiring an additional 102,207 shares during the period. Norges Bank bought a new stake in ZoomInfo Technologies in the fourth quarter valued at approximately $17,042,000. Finally, GAMMA Investing LLC raised its stake in ZoomInfo Technologies by 28.8% in the 1st quarter. GAMMA Investing LLC now owns 6,636 shares of the company's stock valued at $66,000 after acquiring an additional 1,484 shares during the period. Institutional investors own 95.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays increased their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Mizuho dropped their target price on ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company increased their price objective on ZoomInfo Technologies from $8.00 to $10.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. DA Davidson decreased their price objective on shares of ZoomInfo Technologies from $13.00 to $8.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler increased their price target on ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $10.63.

ZoomInfo Technologies Price Performance

Shares of ZoomInfo Technologies stock traded down $0.62 during trading on Monday, reaching $10.21. The company's stock had a trading volume of 4,627,515 shares, compared to its average volume of 7,578,001. ZoomInfo Technologies Inc. has a 12-month low of $7.01 and a 12-month high of $13.39. The company has a market capitalization of $3.49 billion, a P/E ratio of 340.45, a price-to-earnings-growth ratio of 13.05 and a beta of 1.02. The business has a 50 day moving average price of $10.16 and a 200-day moving average price of $9.92. 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 (NASDAQ:ZI - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.23 earnings per share 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 firm had revenue of $305.70 million during the quarter, compared to analyst estimates of $295.60 million. During the same quarter last year, the firm earned $0.26 EPS. ZoomInfo Technologies's quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 EPS for the current year.

ZoomInfo Technologies Company 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.