Federated Hermes Inc. Purchases 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. raised its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,015,127 shares of the company's stock after purchasing an additional 138,309 shares during the period. Federated Hermes Inc. owned about 0.30% of ZoomInfo Technologies worth $10,151,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fielder Capital Group LLC acquired a new stake in shares of ZoomInfo Technologies in the first quarter valued at $124,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of ZoomInfo Technologies by 8.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,578 shares of the company's stock worth $716,000 after purchasing an additional 5,523 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in ZoomInfo Technologies in the first quarter valued at about $1,575,000. Allianz Asset Management GmbH raised its position in ZoomInfo Technologies by 4.8% in the first quarter. Allianz Asset Management GmbH now owns 237,869 shares of the company's stock valued at $2,379,000 after purchasing an additional 10,990 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC bought a new stake in ZoomInfo Technologies in the first quarter worth approximately $103,000. Institutional investors own 95.47% of the company's stock.

Analyst Upgrades and Downgrades

ZI has been the topic of a number of research analyst reports. Barclays upped their target price 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. Morgan Stanley reduced their price objective on 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. Mizuho lowered their price target on ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Piper Sandler raised their target price on ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, DA Davidson lowered their price objective on ZoomInfo Technologies from $13.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.63.

ZoomInfo Technologies Stock Down 8.0%

NASDAQ ZI traded down $0.85 during trading on Wednesday, reaching $9.80. 18,707,268 shares of the company's stock were exchanged, compared to its average volume of 7,578,001. ZoomInfo Technologies Inc. has a 1 year low of $7.01 and a 1 year high of $13.39. 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 stock has a market cap of $3.35 billion, a P/E ratio of 326.78, a price-to-earnings-growth ratio of 13.05 and a beta of 1.02. The company has a 50 day moving average price of $10.20 and a two-hundred day moving average price of $9.93.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.23 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $295.60 million. During the same quarter in the prior year, the company posted $0.26 EPS. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

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.