Primecap Management Co. CA Purchases 318,005 Shares of 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 increased its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in ZoomInfo Technologies by 160.8% during the 4th quarter. Wells Fargo & Company MN now owns 39,545 shares of the company's stock valued at $416,000 after buying an additional 24,381 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in shares of ZoomInfo Technologies during the 4th quarter valued at about $390,000. Bank of Montreal Can lifted its stake in shares of ZoomInfo Technologies by 23.1% in the 4th quarter. Bank of Montreal Can now owns 35,009 shares of the company's stock worth $368,000 after purchasing an additional 6,580 shares during the period. Invesco Ltd. grew its position in ZoomInfo Technologies by 3.2% during the fourth quarter. Invesco Ltd. now owns 572,867 shares of the company's stock valued at $6,021,000 after buying an additional 17,608 shares during the period. Finally, Bank of Nova Scotia increased its holdings in ZoomInfo Technologies by 2,194.3% during the fourth quarter. Bank of Nova Scotia now owns 893,156 shares of the company's stock valued at $9,387,000 after buying an additional 854,227 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ZI has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of 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. Piper Sandler boosted their price target on ZoomInfo Technologies from $8.00 to $11.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Mizuho decreased their price objective on ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays lifted their price objective on ZoomInfo Technologies from $9.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company increased their target price on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Two investment 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 MarketBeat, ZoomInfo Technologies has a consensus rating of "Hold" and an average price target of $11.00.

ZoomInfo Technologies Price Performance

NASDAQ ZI traded up $0.20 during trading hours on Friday, reaching $10.39. The company's stock had a trading volume of 8,743,655 shares, 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 quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 346.45, a PEG ratio of 13.05 and a beta of 1.02. The firm's 50-day moving average price is $10.23 and its 200-day moving average price is $9.93.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The firm had revenue of $305.70 million for the quarter, compared to analysts' expectations of $295.60 million. During the same quarter last year, the business posted $0.26 earnings per share. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts predict 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.