LSV Asset Management Purchases 3,038,847 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Key Points

• LSV Asset Management increased its stake in ZoomInfo Technologies by a staggering 2,528.2% in Q1, acquiring an additional 3,038,847 shares, bringing its total holdings to over 3.1 million shares valued at approximately $31.59 million.
• Several institutional investors have also boosted their positions in ZoomInfo, contributing to a total of 95.47% institutional ownership of the stock.
• Analysts have lowered their price targets for ZoomInfo Technologies, with Mizuho and DA Davidson setting new targets at $9.00 and $8.00 respectively, while the stock has an average price target of $10.63.

LSV Asset Management grew its position in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 2,528.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,159,047 shares of the company's stock after purchasing an additional 3,038,847 shares during the period. LSV Asset Management owned approximately 0.92% of ZoomInfo Technologies worth $31,590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in shares of ZoomInfo Technologies by 419.0% in the fourth quarter. Sei Investments Co. now owns 181,692 shares of the company's stock valued at $1,910,000 after acquiring an additional 146,681 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ZoomInfo Technologies by 983.2% in the first 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 in the last quarter. Norges Bank bought a new position in shares of ZoomInfo Technologies in the fourth quarter valued at approximately $17,042,000. GAMMA Investing LLC lifted its stake in ZoomInfo Technologies by 28.8% during the first quarter. GAMMA Investing LLC now owns 6,636 shares of the company's stock valued at $66,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in ZoomInfo Technologies during the first quarter valued at approximately $480,000. Institutional investors own 95.47% of the company's stock.

ZoomInfo Technologies Trading Up 2.0%

NASDAQ ZI traded up $0.20 on Friday, hitting $10.39. 8,743,655 shares of the stock were exchanged, compared to its average volume of 7,578,001. 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. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 346.45, a P/E/G ratio of 13.05 and a beta of 1.02. The company's 50-day moving average price is $10.21 and its two-hundred day moving average price is $9.93.

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

Analysts Set New Price Targets

Several research firms recently commented on ZI. DA Davidson cut their target price on shares of ZoomInfo Technologies from $13.00 to $8.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company increased their target price on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Barclays increased their target price on shares of ZoomInfo Technologies from $9.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Morgan Stanley cut their target price on shares of ZoomInfo Technologies from $13.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho cut their target price on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.00.

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.