Pacer Advisors Inc. Sells 6,029,948 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Key Points

• Pacer Advisors Inc. sold 82.9% of its shares in ZoomInfo Technologies, bringing its ownership to 1,247,831 shares valued at approximately $12.5 million.
• ZoomInfo Technologies reported a quarterly EPS of $0.23, exceeding estimates, but experienced a 1.4% decline in year-over-year revenue.
• Analyst ratings for ZoomInfo vary, with a consensus rating of "Hold" and an average price target of $10.63 among research firms.

Pacer Advisors Inc. reduced its stake in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 82.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,247,831 shares of the company's stock after selling 6,029,948 shares during the period. Pacer Advisors Inc. owned 0.36% of ZoomInfo Technologies worth $12,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of ZoomInfo Technologies by 28.8% in the 1st quarter. GAMMA Investing LLC now owns 6,636 shares of the company's stock worth $66,000 after acquiring an additional 1,484 shares during the period. UMB Bank n.a. lifted its stake in ZoomInfo Technologies by 125.3% during the first quarter. UMB Bank n.a. now owns 3,396 shares of the company's stock valued at $34,000 after purchasing an additional 1,889 shares during the last quarter. Wedmont Private Capital lifted its stake in ZoomInfo Technologies by 18.8% during the first quarter. Wedmont Private Capital now owns 14,386 shares of the company's stock valued at $144,000 after purchasing an additional 2,272 shares during the last quarter. State of Tennessee Department of Treasury lifted its stake in ZoomInfo Technologies by 2.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 95,894 shares of the company's stock valued at $1,008,000 after purchasing an additional 2,294 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in ZoomInfo Technologies by 3.6% during the first quarter. Impax Asset Management Group plc now owns 66,701 shares of the company's stock valued at $667,000 after purchasing an additional 2,295 shares during the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Mizuho lowered their price target on ZoomInfo Technologies from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company increased their price target on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. 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 upped their price objective on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, DA Davidson decreased their price objective on shares of ZoomInfo Technologies from $13.00 to $8.00 and set a "neutral" rating for the company 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 an average rating of "Hold" and an average target price of $10.63.

ZoomInfo Technologies Stock Down 2.7%

ZI traded down $0.31 during trading on Wednesday, reaching $11.14. The company had a trading volume of 3,583,466 shares, compared to its average volume of 7,578,001. 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 business's fifty day moving average price is $10.08 and its 200 day moving average price is $9.90. ZoomInfo Technologies Inc. has a 12 month low of $7.01 and a 12 month high of $13.39. The company has a market cap of $3.81 billion, a P/E ratio of 371.46, a PEG ratio of 13.05 and a beta of 1.02.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.23 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 business had revenue of $305.70 million for the quarter, compared to the consensus estimate of $295.60 million. During the same period in the prior year, the company posted $0.26 earnings per share. ZoomInfo Technologies's revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 EPS for the current year.

About ZoomInfo Technologies

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.