Retirement Systems of Alabama Increases Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Retirement Systems of Alabama grew its position in shares of Ziff Davis, Inc. (NASDAQ:ZD - Free Report) by 212.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,314 shares of the technology company's stock after buying an additional 123,275 shares during the quarter. Retirement Systems of Alabama owned 0.39% of Ziff Davis worth $12,182,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in Ziff Davis by 3.2% in the 4th quarter. Russell Investments Group Ltd. now owns 79,586 shares of the technology company's stock worth $5,347,000 after purchasing an additional 2,445 shares during the period. Semanteon Capital Management LP bought a new stake in Ziff Davis during the fourth quarter valued at about $280,000. Duality Advisers LP bought a new stake in Ziff Davis during the fourth quarter valued at about $349,000. Signaturefd LLC raised its holdings in Ziff Davis by 86.2% during the fourth quarter. Signaturefd LLC now owns 996 shares of the technology company's stock valued at $67,000 after acquiring an additional 461 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Ziff Davis during the fourth quarter valued at about $867,000. 99.76% of the stock is owned by institutional investors.

Ziff Davis Stock Up 8.2 %

Shares of Ziff Davis stock traded up $4.07 during trading on Thursday, hitting $53.59. 606,585 shares of the stock were exchanged, compared to its average volume of 302,828. Ziff Davis, Inc. has a 12-month low of $49.50 and a 12-month high of $75.58. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 64.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.76 and a quick ratio of 2.76. The firm's 50-day moving average price is $60.28 and its 200 day moving average price is $63.38.

Ziff Davis (NASDAQ:ZD - Get Free Report) last announced its earnings results on Wednesday, February 21st. The technology company reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $2.17 by $0.02. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. The business had revenue of $389.89 million during the quarter, compared to analysts' expectations of $400.71 million. As a group, analysts forecast that Ziff Davis, Inc. will post 6.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ZD shares. Wedbush raised their price objective on Ziff Davis from $75.00 to $78.00 and gave the company an "outperform" rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. upgraded Ziff Davis from a "neutral" rating to an "overweight" rating and set a $70.00 price objective for the company in a research report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $95.00 price target on shares of Ziff Davis in a research report on Friday, February 23rd. Evercore ISI lifted their price target on Ziff Davis from $75.00 to $80.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Finally, UBS Group dropped their price target on Ziff Davis from $77.00 to $76.00 and set a "neutral" rating for the company in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Ziff Davis has a consensus rating of "Moderate Buy" and a consensus target price of $79.57.

Insider Buying and Selling at Ziff Davis

In other Ziff Davis news, EVP Jeremy Rossen sold 4,162 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $69.43, for a total value of $288,967.66. Following the sale, the executive vice president now owns 7,261 shares of the company's stock, valued at $504,131.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.08% of the company's stock.

Ziff Davis Company 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.