Acadian Asset Management LLC Purchases Shares of 77,387 ZoomInfo Technologies Inc. (NASDAQ:ZI)

Acadian Asset Management LLC purchased a new stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 77,387 shares of the company’s stock, valued at approximately $987,000.

Other hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of ZoomInfo Technologies by 47.2% in the second quarter. Victory Capital Management Inc. now owns 89,253 shares of the company’s stock worth $1,140,000 after acquiring an additional 28,617 shares during the period. CIBC Asset Management Inc bought a new position in shares of ZoomInfo Technologies in the second quarter worth about $137,000. nVerses Capital LLC boosted its stake in shares of ZoomInfo Technologies by 3,600.0% in the second quarter. nVerses Capital LLC now owns 18,500 shares of the company’s stock worth $236,000 after acquiring an additional 18,000 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of ZoomInfo Technologies by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 3,289,360 shares of the company’s stock worth $42,005,000 after acquiring an additional 223,669 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of ZoomInfo Technologies in the second quarter worth about $123,000. Institutional investors own 95.47% of the company’s stock.

Insiders Place Their Bets

In other ZoomInfo Technologies news, CFO Peter Cameron Hyzer sold 7,500 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $12.37, for a total transaction of $92,775.00. Following the transaction, the chief financial officer now directly owns 1,316,518 shares in the company, valued at approximately $16,285,327.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ZoomInfo Technologies news, CFO Peter Cameron Hyzer sold 7,500 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $12.37, for a total transaction of $92,775.00. Following the transaction, the chief financial officer now directly owns 1,316,518 shares in the company, valued at approximately $16,285,327.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Henry Schuck acquired 1,500,000 shares of ZoomInfo Technologies stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $12,735,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 11,788,001 shares in the company, valued at $100,080,128.49. The disclosure for this purchase can be found here. 8.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ZI shares. Wells Fargo & Company dropped their price objective on ZoomInfo Technologies from $19.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Bank of America lowered ZoomInfo Technologies from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $23.00 to $8.00 in a research note on Tuesday, August 6th. Truist Financial decreased their target price on ZoomInfo Technologies from $16.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Citigroup decreased their target price on ZoomInfo Technologies from $11.00 to $7.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Raymond James downgraded ZoomInfo Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, ZoomInfo Technologies presently has an average rating of “Hold” and an average price target of $13.40.

ZoomInfo Technologies Price Performance

Shares of ZI stock opened at $10.60 on Tuesday. ZoomInfo Technologies Inc. has a 52-week low of $7.65 and a 52-week high of $19.39. 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 firm has a market capitalization of $3.96 billion, a P/E ratio of 53.00, a P/E/G ratio of 6.25 and a beta of 1.05. The stock has a 50 day moving average price of $10.30 and a 200 day moving average price of $12.91.

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 analysts’ consensus estimates of $0.24 by ($0.07). ZoomInfo Technologies had a return on equity of 10.96% and a net margin of 1.25%. The business had revenue of $291.50 million for the quarter, compared to the consensus estimate of $307.68 million. During the same period in the prior year, the business posted $0.16 earnings per share. ZoomInfo Technologies’s revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts predict that ZoomInfo Technologies Inc. will post 0.55 earnings per share for the current year.

ZoomInfo Technologies Company Profile

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.