Federated Hermes Inc. Raises Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Federated Hermes Inc. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 18.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 394,698 shares of the company’s stock after purchasing an additional 61,037 shares during the quarter. Federated Hermes Inc. owned 0.26% of Zscaler worth $75,857,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Zscaler in the 4th quarter valued at about $29,000. Quest Partners LLC bought a new position in shares of Zscaler during the 2nd quarter worth $28,000. Quadrant Capital Group LLC increased its stake in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new stake in Zscaler in the second quarter worth about $50,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the transaction, the chief financial officer now directly owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. UBS Group reduced their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Rosenblatt Securities reiterated a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group lowered their target price on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $218.39.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $170.06 on Friday. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61. The firm’s 50 day simple moving average is $184.05 and its 200-day simple moving average is $185.21. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) EPS. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.92 EPS for the current year.

Zscaler Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.