AlphaQuest LLC Reduces Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

AlphaQuest LLC cut its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 81.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,262 shares of the company’s stock after selling 19,058 shares during the quarter. AlphaQuest LLC’s holdings in ZoomInfo Technologies were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of ZoomInfo Technologies by 22.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,221 shares of the company’s stock worth $139,000 after buying an additional 2,456 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in shares of ZoomInfo Technologies in the fourth quarter worth about $164,000. Raymond James Financial Inc. purchased a new stake in shares of ZoomInfo Technologies in the fourth quarter worth about $8,729,000. M&T Bank Corp lifted its holdings in shares of ZoomInfo Technologies by 25.1% in the fourth quarter. M&T Bank Corp now owns 20,206 shares of the company’s stock worth $212,000 after buying an additional 4,054 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ZoomInfo Technologies by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,213,099 shares of the company’s stock worth $23,260,000 after buying an additional 19,083 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on ZI shares. Citigroup upped their price objective 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. Scotiabank upped their price objective on shares of ZoomInfo Technologies from $10.30 to $11.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 27th. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $11.00 in a research report on Wednesday, February 26th. Morgan Stanley upped their price objective on shares of ZoomInfo Technologies from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group upped their price objective on shares of ZoomInfo Technologies from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, ZoomInfo Technologies currently has an average rating of “Hold” and a consensus target price of $11.92.

ZoomInfo Technologies Stock Performance

Shares of ZoomInfo Technologies stock opened at $10.72 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.67 billion, a P/E ratio of 357.45, a P/E/G ratio of 13.05 and a beta of 0.97. The business has a fifty day simple moving average of $10.46 and a two-hundred day simple moving average of $10.51. ZoomInfo Technologies Inc. has a 12 month low of $7.65 and a 12 month high of $16.98.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). The firm 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%. On average, equities analysts forecast that ZoomInfo Technologies Inc. will post 0.59 earnings per share for the current fiscal 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.