Texas Permanent School Fund Corp Sells 37,536 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Texas Permanent School Fund Corp reduced its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 14.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,725 shares of the company’s stock after selling 37,536 shares during the quarter. Texas Permanent School Fund Corp’s holdings in ZoomInfo Technologies were worth $2,831,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. J.Safra Asset Management Corp lifted its holdings in ZoomInfo Technologies by 955.2% during the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company’s stock worth $34,000 after acquiring an additional 2,388 shares during the period. Quest Partners LLC purchased a new stake in ZoomInfo Technologies in the fourth quarter worth $62,000. Covestor Ltd increased its position in ZoomInfo Technologies by 598.5% in the first quarter. Covestor Ltd now owns 3,339 shares of the company’s stock worth $54,000 after buying an additional 2,861 shares during the last quarter. Quadrant Capital Group LLC increased its position in ZoomInfo Technologies by 85.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,885 shares of the company’s stock worth $72,000 after buying an additional 1,786 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in ZoomInfo Technologies by 45.3% in the first quarter. Advisors Asset Management Inc. now owns 4,964 shares of the company’s stock worth $80,000 after buying an additional 1,547 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Henry Schuck purchased 1,500,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average price of $8.49 per share, with a total value of $12,735,000.00. Following the completion of the purchase, the chief executive officer now directly owns 11,788,001 shares in the company, valued at approximately $100,080,128.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Peter Cameron Hyzer sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $12.37, for a total value of $92,775.00. Following the completion of the sale, the chief financial officer now owns 1,316,518 shares of the company’s stock, valued at approximately $16,285,327.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Henry Schuck bought 1,500,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $8.49 per share, with a total value of $12,735,000.00. Following the purchase, the chief executive officer now owns 11,788,001 shares in the company, valued at approximately $100,080,128.49. The disclosure for this purchase can be found here. Corporate insiders own 8.10% of the company’s stock.

ZoomInfo Technologies Price Performance

NASDAQ:ZI opened at $10.62 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $10.33 and a 200 day moving average of $12.95. ZoomInfo Technologies Inc. has a 52-week low of $7.65 and a 52-week high of $19.39. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 53.10, a P/E/G ratio of 6.25 and a beta of 1.05.

ZoomInfo Technologies (NASDAQ:ZI) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.07). ZoomInfo Technologies had a return on equity of 10.96% and a net margin of 1.25%. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $307.68 million. During the same period last year, the firm earned $0.16 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts expect that ZoomInfo Technologies Inc. will post 0.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Mizuho decreased their target price on ZoomInfo Technologies from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Daiwa America downgraded ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Truist Financial decreased their target price on ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Piper Sandler decreased their target price on ZoomInfo Technologies from $14.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, Barclays reduced their price target on ZoomInfo Technologies from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.40.

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.