Primecap Management Co. CA Boosts Stock Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Key Points

• Primecap Management Co. CA increased its stake in ZoomInfo Technologies Inc. by 7.3% in the first quarter, now owning approximately 1.37% of the company valued at $46.9 million.
• Multiple hedge funds have altered their positions in ZoomInfo, with Wells Fargo increasing its stake by 160.8% and Bank of Nova Scotia raising its holdings by 2,194.3% during the fourth quarter.
• ZoomInfo Technologies reported Q1 earnings per share of $0.23, beating expectations, with revenue slightly decreasing by 1.4% year over year to $305.7 million.

Primecap Management Co. CA raised its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,689,906 shares of the company's stock after purchasing an additional 318,005 shares during the quarter. Primecap Management Co. CA owned 1.37% of ZoomInfo Technologies worth $46,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ZI. UMB Bank n.a. raised its stake in shares of ZoomInfo Technologies by 125.3% in the first quarter. UMB Bank n.a. now owns 3,396 shares of the company's stock worth $34,000 after purchasing an additional 1,889 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of ZoomInfo Technologies by 28.8% in the first 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 in the last quarter. US Bancorp DE grew its holdings in shares of ZoomInfo Technologies by 32.9% in the first quarter. US Bancorp DE now owns 8,458 shares of the company's stock valued at $85,000 after acquiring an additional 2,092 shares in the last quarter. Allegiance Financial Group Advisory Services LLC bought a new position in shares of ZoomInfo Technologies in the first quarter valued at approximately $103,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of ZoomInfo Technologies in the fourth quarter valued at approximately $109,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ZoomInfo Technologies Stock Performance

Shares of NASDAQ:ZI traded down $0.57 during trading on Monday, hitting $9.82. 5,464,464 shares of the company were exchanged, compared to its average volume of 7,578,001. The company has a market cap of $3.36 billion, a PE ratio of 327.44, a P/E/G ratio of 13.05 and a beta of 1.02. The stock has a 50 day moving average of $10.23 and a 200 day moving average of $9.93. 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.

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