Envestnet Portfolio Solutions Inc. Takes $221,000 Position in Ziff Davis, Inc. (NASDAQ:ZD)

Envestnet Portfolio Solutions Inc. purchased a new position in shares of Ziff Davis, Inc. (NASDAQ:ZD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,013 shares of the technology company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ZD. Quadrature Capital Ltd acquired a new position in shares of Ziff Davis during the 4th quarter worth about $1,257,000. Retirement Systems of Alabama grew its holdings in Ziff Davis by 63.6% during the first quarter. Retirement Systems of Alabama now owns 296,572 shares of the technology company’s stock valued at $18,696,000 after purchasing an additional 115,258 shares during the period. Dimensional Fund Advisors LP increased its stake in Ziff Davis by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock valued at $113,771,000 after purchasing an additional 136,220 shares in the last quarter. Signaturefd LLC raised its holdings in Ziff Davis by 86.2% in the fourth quarter. Signaturefd LLC now owns 996 shares of the technology company’s stock worth $67,000 after purchasing an additional 461 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of Ziff Davis by 4.6% during the first quarter. QRG Capital Management Inc. now owns 17,623 shares of the technology company’s stock worth $1,111,000 after purchasing an additional 777 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Ziff Davis Stock Performance

Shares of ZD stock opened at $46.45 on Friday. The firm has a market cap of $2.14 billion, a PE ratio of 38.39 and a beta of 1.29. Ziff Davis, Inc. has a 12 month low of $37.76 and a 12 month high of $70.90. The company’s fifty day simple moving average is $48.60 and its 200-day simple moving average is $55.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.53.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). The business had revenue of $320.80 million for the quarter, compared to analyst estimates of $332.44 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. Equities research analysts expect that Ziff Davis, Inc. will post 6.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZD has been the subject of a number of research analyst reports. Barclays decreased their target price on Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. raised Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 target price for the company in a research note on Thursday, May 2nd. Citigroup cut their price target on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Wedbush lowered their price objective on shares of Ziff Davis from $78.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

Ziff Davis Company Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.