Arizona State Retirement System Sells 1,194 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Arizona State Retirement System decreased its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,174 shares of the company’s stock after selling 1,194 shares during the quarter. Arizona State Retirement System’s holdings in ZoomInfo Technologies were worth $780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ZI. Alberta Investment Management Corp bought a new position in ZoomInfo Technologies in the fourth quarter valued at approximately $2,320,000. Victory Capital Management Inc. lifted its stake in ZoomInfo Technologies by 83.4% in the third quarter. Victory Capital Management Inc. now owns 163,708 shares of the company’s stock valued at $1,689,000 after buying an additional 74,455 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in ZoomInfo Technologies in the fourth quarter valued at approximately $280,000. State Street Corp lifted its stake in ZoomInfo Technologies by 2.0% in the third quarter. State Street Corp now owns 8,626,463 shares of the company’s stock valued at $89,025,000 after buying an additional 165,440 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in ZoomInfo Technologies in the third quarter valued at approximately $895,000. Institutional investors own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ZI. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of ZoomInfo Technologies in a report on Wednesday, February 26th. Canaccord Genuity Group increased their target price on shares of ZoomInfo Technologies from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Piper Sandler upgraded shares of ZoomInfo Technologies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $11.00 in a report on Wednesday, February 26th. KeyCorp cut shares of ZoomInfo Technologies from a “sector weight” rating to an “underweight” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company increased their target price on shares of ZoomInfo Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.92.

ZoomInfo Technologies Price Performance

Shares of ZI opened at $10.45 on Friday. The firm has a market capitalization of $3.59 billion, a PE ratio of 348.45, a PEG ratio of 13.05 and a beta of 0.97. The company’s 50-day moving average is $10.41 and its 200-day moving average is $10.49. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $16.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.63 and a quick ratio of 0.63.

ZoomInfo Technologies (NASDAQ:ZI) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $309.10 million during the quarter, compared to the consensus estimate of $297.64 million. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. Equities analysts forecast that ZoomInfo Technologies Inc. will post 0.59 EPS for the current 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.