Panagora Asset Management Inc. Boosts Stake in Zuora, Inc. (NYSE:ZUO)

Panagora Asset Management Inc. lifted its stake in Zuora, Inc. (NYSE:ZUO) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 822,830 shares of the company’s stock after purchasing an additional 28,865 shares during the period. Panagora Asset Management Inc. owned 0.56% of Zuora worth $8,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Zuora by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock worth $157,434,000 after buying an additional 917,565 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Zuora by 13.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,740,046 shares of the company’s stock worth $35,156,000 after buying an additional 429,705 shares in the last quarter. Bares Capital Management Inc. increased its stake in Zuora by 41.4% in the 1st quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock worth $15,926,000 after buying an additional 511,292 shares in the last quarter. Scalar Gauge Management LLC purchased a new stake in Zuora in the 4th quarter worth $12,620,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Zuora by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,147,650 shares of the company’s stock worth $10,788,000 after buying an additional 38,133 shares in the last quarter. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on Zuora from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Zuora in a research note on Thursday, August 22nd. Robert W. Baird increased their price objective on shares of Zuora from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Canaccord Genuity Group reissued a “buy” rating and set a $13.00 price objective on shares of Zuora in a report on Thursday, August 22nd. Finally, Lake Street Capital increased their price objective on shares of Zuora from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.86.

Zuora Stock Down 1.3 %

Shares of NYSE:ZUO opened at $8.79 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 2.60. Zuora, Inc. has a 12 month low of $7.05 and a 12 month high of $10.85. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -20.44 and a beta of 1.71. The company has a 50-day moving average price of $9.02 and a 200 day moving average price of $9.20.

Zuora (NYSE:ZUO) last posted its quarterly earnings data on Wednesday, August 21st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. Zuora had a negative net margin of 10.60% and a negative return on equity of 13.94%. The company had revenue of $115.40 million for the quarter, compared to analyst estimates of $112.63 million. During the same period in the prior year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts predict that Zuora, Inc. will post -0.06 earnings per share for the current year.

Insider Transactions at Zuora

In other news, insider Andrew M. Cohen sold 3,861 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $8.71, for a total transaction of $33,629.31. Following the transaction, the insider now directly owns 148,640 shares of the company’s stock, valued at $1,294,654.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Andrew M. Cohen sold 3,861 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $8.71, for a total transaction of $33,629.31. Following the transaction, the insider now directly owns 148,640 shares of the company’s stock, valued at $1,294,654.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Peter Hirsch sold 58,267 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $9.06, for a total transaction of $527,899.02. Following the transaction, the insider now directly owns 14,566 shares in the company, valued at $131,967.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,666 shares of company stock valued at $3,408,961. 8.62% of the stock is currently owned by company insiders.

Zuora Profile

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.