Raymond James Financial Inc. Takes Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Raymond James Financial Inc. acquired a new stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 830,558 shares of the company’s stock, valued at approximately $8,729,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. FMR LLC raised its stake in ZoomInfo Technologies by 27.7% in the 3rd quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after acquiring an additional 7,177,687 shares during the last quarter. Maverick Capital Ltd. purchased a new position in ZoomInfo Technologies in the 3rd quarter worth $44,248,000. Pacer Advisors Inc. raised its stake in ZoomInfo Technologies by 38.7% in the 3rd quarter. Pacer Advisors Inc. now owns 9,274,829 shares of the company’s stock worth $95,716,000 after acquiring an additional 2,585,631 shares during the last quarter. Primecap Management Co. CA raised its stake in ZoomInfo Technologies by 97.6% in the 3rd quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock worth $26,475,000 after acquiring an additional 1,267,171 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in ZoomInfo Technologies by 304.5% in the 4th quarter. Retirement Systems of Alabama now owns 1,417,844 shares of the company’s stock worth $14,902,000 after acquiring an additional 1,067,299 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Price Performance

NASDAQ:ZI opened at $10.89 on Friday. ZoomInfo Technologies Inc. has a 52 week low of $7.65 and a 52 week high of $16.98. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3.73 billion, a PE ratio of 363.12, a price-to-earnings-growth ratio of 13.05 and a beta of 0.97. The stock’s 50-day moving average price is $10.49 and its 200-day moving average price is $10.52.

ZoomInfo Technologies (NASDAQ:ZI) last posted 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). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The business had revenue of $309.10 million for the quarter, compared to analyst estimates of $297.64 million. As a group, equities analysts expect that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ZI has been the subject of a number of research analyst reports. Barclays raised their target price on ZoomInfo Technologies from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Morgan Stanley raised their target price on ZoomInfo Technologies from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research note on Wednesday, February 26th. Finally, KeyCorp lowered ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a research note on Friday, December 13th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.92.

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.