Sachem Head Capital Management LP Trims Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Sachem Head Capital Management LP cut its holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,335,000 shares of the company's stock after selling 7,695,000 shares during the period. ZoomInfo Technologies comprises approximately 4.8% of Sachem Head Capital Management LP's portfolio, making the stock its 10th biggest holding. Sachem Head Capital Management LP owned about 2.43% of ZoomInfo Technologies worth $87,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ZI. Barclays PLC increased its holdings in ZoomInfo Technologies by 154.7% during the third quarter. Barclays PLC now owns 342,495 shares of the company's stock worth $3,534,000 after buying an additional 208,015 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of ZoomInfo Technologies by 343.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,115 shares of the company's stock valued at $64,000 after acquiring an additional 4,735 shares during the period. Fifth Third Bancorp increased its stake in shares of ZoomInfo Technologies by 47.8% during the 4th quarter. Fifth Third Bancorp now owns 3,836 shares of the company's stock worth $40,000 after purchasing an additional 1,241 shares during the last quarter. Blue Trust Inc. increased its stake in shares of ZoomInfo Technologies by 10,586.7% during the 4th quarter. Blue Trust Inc. now owns 20,839 shares of the company's stock worth $215,000 after purchasing an additional 20,644 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of ZoomInfo Technologies by 2,644.4% in the 4th quarter. KBC Group NV now owns 257,781 shares of the company's stock worth $2,709,000 after purchasing an additional 248,388 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ZI. Canaccord Genuity Group raised their target price on ZoomInfo Technologies from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on ZoomInfo Technologies from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Scotiabank upped their price objective on shares of ZoomInfo Technologies from $10.30 to $11.00 and gave the company a "sector perform" rating in a report on Thursday, February 27th. Morgan Stanley cut their target price on shares of ZoomInfo Technologies from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus lifted their target price on shares of ZoomInfo Technologies from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, ZoomInfo Technologies currently has a consensus rating of "Hold" and an average price target of $10.63.

ZoomInfo Technologies Price Performance

NASDAQ:ZI traded down $0.20 during trading hours on Thursday, hitting $9.70. 7,868,736 shares of the company's stock traded hands, compared to its average volume of 7,285,266. ZoomInfo Technologies Inc. has a 52 week low of $7.01 and a 52 week high of $13.39. The business's fifty day simple moving average is $9.21 and its two-hundred day simple moving average is $10.15. 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 firm has a market cap of $3.32 billion, a P/E ratio of 323.44, a P/E/G ratio of 13.05 and a beta of 1.02.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $305.70 million during 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 company's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. On average, research analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 earnings per share 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.