NorthCrest Asset Manangement LLC Purchases New Shares in ZoomInfo Technologies Inc. (NASDAQ:ZI)

NorthCrest Asset Manangement LLC purchased a new position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 18,619 shares of the company’s stock, valued at approximately $186,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in ZoomInfo Technologies in the 4th quarter worth about $329,000. Blue Trust Inc. boosted its position in ZoomInfo Technologies by 8,412.3% during the fourth quarter. Blue Trust Inc. now owns 16,599 shares of the company’s stock worth $174,000 after purchasing an additional 16,404 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of ZoomInfo Technologies by 4.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 212,037 shares of the company’s stock worth $2,229,000 after purchasing an additional 9,631 shares in the last quarter. Alberta Investment Management Corp bought a new stake in shares of ZoomInfo Technologies in the fourth quarter valued at approximately $2,320,000. Finally, Handelsbanken Fonder AB raised its position in shares of ZoomInfo Technologies by 27.7% in the fourth quarter. Handelsbanken Fonder AB now owns 69,600 shares of the company’s stock valued at $731,000 after purchasing an additional 15,100 shares during the period. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 13th. Barclays lifted their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 13th. DA Davidson decreased their price objective on ZoomInfo Technologies from $13.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their target price on ZoomInfo Technologies from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of ZoomInfo Technologies in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ZoomInfo Technologies has a consensus rating of “Hold” and an average target price of $10.63.

ZoomInfo Technologies Trading Down 3.3%

Shares of ZI stock opened at $9.66 on Tuesday. The firm’s 50 day moving average is $9.20 and its 200 day moving average is $9.97. The stock has a market capitalization of $3.31 billion, a P/E ratio of 322.11, a P/E/G ratio of 13.05 and a beta of 1.02. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. ZoomInfo Technologies Inc. has a 12-month low of $7.01 and a 12-month high of $13.39.

ZoomInfo Technologies (NASDAQ:ZI) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $305.70 million for the quarter, compared to the consensus estimate of $295.60 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Research analysts expect that ZoomInfo Technologies Inc. will post 0.59 earnings per share 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.