Northern Trust Corp Cuts Stock Position in ZoomInfo Technologies Inc. $ZI

Key Points

• Northern Trust Corp has reduced its stake in ZoomInfo Technologies Inc. by 3.5%, now holding 2,379,117 shares valued at approximately $23.79 million.
• Institutional investors currently own 95.47% of ZoomInfo Technologies, with various funds increasing their holdings significantly during the first quarter of 2023.
• Analysts have raised their price targets for ZoomInfo Technologies, with the consensus target price now at $11.18 and a general rating of "Hold" for the stock.

Northern Trust Corp cut its position in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,379,117 shares of the company's stock after selling 86,845 shares during the quarter. Northern Trust Corp owned about 0.70% of ZoomInfo Technologies worth $23,791,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake 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 worth $66,000 after acquiring an additional 1,484 shares during the last quarter. UMB Bank n.a. grew its stake in 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 in the last quarter. US Bancorp DE boosted its position in shares of ZoomInfo Technologies by 32.9% in the 1st quarter. US Bancorp DE now owns 8,458 shares of the company's stock worth $85,000 after purchasing an additional 2,092 shares in the last quarter. Wedmont Private Capital raised its stake in ZoomInfo Technologies by 18.8% in the 1st quarter. Wedmont Private Capital now owns 14,386 shares of the company's stock worth $144,000 after acquiring an additional 2,272 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of ZoomInfo Technologies by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 66,701 shares of the company's stock valued at $667,000 after buying an additional 2,295 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Piper Sandler upped their price target on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Barclays increased their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $11.18.

ZoomInfo Technologies Price Performance

Shares of NASDAQ:ZI traded down $0.26 during trading on Friday, reaching $10.12. The stock had a trading volume of 2,945,010 shares, compared to its average volume of 7,578,001. The business's 50-day moving average price is $10.40 and its 200 day moving average price is $9.94. 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 Inc. has a 52 week low of $7.01 and a 52 week high of $13.39. The stock has a market capitalization of $3.46 billion, a PE ratio of 337.45, a P/E/G ratio of 13.05 and a beta of 1.02.

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.