California Public Employees Retirement System Sells 21,677 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

California Public Employees Retirement System decreased its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,452 shares of the company’s stock after selling 21,677 shares during the quarter. California Public Employees Retirement System owned approximately 0.11% of ZoomInfo Technologies worth $7,941,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its position in ZoomInfo Technologies by 180.0% during the third quarter. FMR LLC now owns 13,859,918 shares of the company’s stock valued at $227,303,000 after purchasing an additional 8,909,420 shares in the last quarter. Cadian Capital Management LP boosted its position in ZoomInfo Technologies by 110.7% during the third quarter. Cadian Capital Management LP now owns 9,765,615 shares of the company’s stock valued at $160,156,000 after purchasing an additional 5,131,000 shares in the last quarter. Vanguard Group Inc. boosted its position in ZoomInfo Technologies by 6.6% during the third quarter. Vanguard Group Inc. now owns 33,741,205 shares of the company’s stock valued at $553,356,000 after purchasing an additional 2,079,385 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ZoomInfo Technologies by 99.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,989,440 shares of the company’s stock valued at $32,627,000 after purchasing an additional 990,077 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in ZoomInfo Technologies by 275.9% during the fourth quarter. Federated Hermes Inc. now owns 1,004,508 shares of the company’s stock valued at $18,573,000 after purchasing an additional 737,256 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZI. KeyCorp began coverage on ZoomInfo Technologies in a research report on Thursday, March 21st. They set an “overweight” rating and a $20.00 price objective on the stock. Morgan Stanley lowered their price target on ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Truist Financial raised their price target on ZoomInfo Technologies from $16.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, February 13th. Citigroup downgraded ZoomInfo Technologies from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $20.00 to $13.00 in a report on Thursday, February 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of ZoomInfo Technologies in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, ZoomInfo Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

ZoomInfo Technologies Stock Down 2.2 %

Shares of ZI stock opened at $16.12 on Friday. The stock has a 50 day moving average of $16.06 and a 200 day moving average of $15.93. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58. The stock has a market cap of $6.12 billion, a P/E ratio of 59.71, a P/E/G ratio of 4.21 and a beta of 1.13. ZoomInfo Technologies Inc. has a twelve month low of $12.36 and a twelve month high of $30.16.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.01. The company had revenue of $316.40 million during the quarter, compared to analysts’ expectations of $310.62 million. ZoomInfo Technologies had a return on equity of 11.25% and a net margin of 8.66%. ZoomInfo Technologies’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.13 earnings per share. As a group, sell-side analysts expect that ZoomInfo Technologies Inc. will post 0.64 EPS for the current year.

About ZoomInfo Technologies

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.