ZoomInfo Technologies (NASDAQ:ZI) Shares Up 7.2% Following Analyst Upgrade

ZoomInfo Technologies Inc. (NASDAQ:ZI)’s share price shot up 7.2% on Thursday after Canaccord Genuity Group raised their price target on the stock from $14.00 to $15.00. Canaccord Genuity Group currently has a buy rating on the stock. ZoomInfo Technologies traded as high as $12.55 and last traded at $12.58. 5,627,040 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 7,143,709 shares. The stock had previously closed at $11.73.

ZI has been the subject of several other reports. KeyCorp lowered shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research report on Friday, December 13th. Barclays raised their price objective on shares of ZoomInfo Technologies from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday. Citigroup upped their target price on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, February 11th. Mizuho raised their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price objective on ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.88.

Insider Activity

In other news, Director David Randall Winn sold 290,541 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.06, for a total transaction of $3,213,383.46. Following the completion of the transaction, the director now directly owns 1,266,807 shares in the company, valued at $14,010,885.42. This trade represents a 18.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Ali Dasdan sold 4,898 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $11.01, for a total transaction of $53,926.98. Following the sale, the chief technology officer now directly owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in ZoomInfo Technologies during the 3rd quarter valued at $37,000. Fifth Third Bancorp increased its position in ZoomInfo Technologies by 47.8% during the fourth quarter. Fifth Third Bancorp now owns 3,836 shares of the company’s stock valued at $40,000 after acquiring an additional 1,241 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ZoomInfo Technologies by 29.1% in the fourth quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $54,000 after acquiring an additional 1,160 shares during the period. Nisa Investment Advisors LLC boosted its position in ZoomInfo Technologies by 343.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,115 shares of the company’s stock worth $64,000 after purchasing an additional 4,735 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in shares of ZoomInfo Technologies by 183.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 8,441 shares of the company’s stock valued at $89,000 after purchasing an additional 5,468 shares during the period. Institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Stock Up 5.5 %

The company’s 50-day moving average price is $10.25 and its 200 day moving average price is $10.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market cap of $4.25 billion, a PE ratio of 416.31, a price-to-earnings-growth ratio of 13.05 and a beta of 1.01.

ZoomInfo Technologies (NASDAQ:ZI) last announced its earnings results on Tuesday, February 25th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The business had revenue of $309.10 million for the quarter, compared to analysts’ expectations of $297.64 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. As a group, analysts forecast that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

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.