Ziff Davis, Inc. $ZD Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Ziff Davis, Inc. by 27.3%, purchasing an additional 29,030 shares and bringing its total to 135,522 shares, valued at approximately $5.09 million.
• Several institutional investors have also enhanced their holdings in Ziff Davis recently, with a notable increase from Janus Henderson Group and a new position established by Nuveen LLC worth around $25.38 million.
• Ziff Davis reported a quarterly earnings per share (EPS) of $1.24, exceeding analysts' expectations of $1.22, with a revenue of $352.21 million, marking a 10% year-over-year increase.

Public Sector Pension Investment Board boosted its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 27.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,522 shares of the technology company's stock after purchasing an additional 29,030 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Ziff Davis worth $5,093,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC bought a new stake in shares of Ziff Davis in the 1st quarter worth $736,000. GAMMA Investing LLC grew its holdings in shares of Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company's stock valued at $27,000 after buying an additional 426 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Ziff Davis by 19.6% during the fourth quarter. Wells Fargo & Company MN now owns 28,506 shares of the technology company's stock valued at $1,549,000 after buying an additional 4,670 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Ziff Davis by 2.6% during the first quarter. Principal Financial Group Inc. now owns 212,797 shares of the technology company's stock valued at $7,997,000 after buying an additional 5,456 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Ziff Davis by 13.0% in the first quarter. Envestnet Asset Management Inc. now owns 13,450 shares of the technology company's stock valued at $505,000 after purchasing an additional 1,552 shares in the last quarter. Institutional investors own 99.76% of the company's stock.

Ziff Davis Stock Performance

Ziff Davis stock traded up $0.20 during trading hours on Tuesday, reaching $37.24. 424,025 shares of the stock were exchanged, compared to its average volume of 656,022. The stock has a market cap of $1.53 billion, a P/E ratio of 24.83 and a beta of 1.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.59 and a current ratio of 1.59. Ziff Davis, Inc. has a 52-week low of $28.55 and a 52-week high of $60.62. The firm's 50 day moving average is $32.52 and its 200 day moving average is $36.05.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.02. The company had revenue of $352.21 million during the quarter, compared to the consensus estimate of $337.47 million. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. Ziff Davis's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 EPS. Analysts predict that Ziff Davis, Inc. will post 5.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on ZD shares. Citigroup lowered their target price on Ziff Davis from $52.00 to $35.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Barclays restated a "positive" rating on shares of Ziff Davis in a research note on Friday, August 8th. Susquehanna lowered their target price on Ziff Davis from $80.00 to $45.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. UBS Group set a $40.00 target price on Ziff Davis and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. downgraded Ziff Davis from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $60.00 to $33.00 in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.86.

Ziff Davis Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.