Bank of New York Mellon Corp Purchases 228,491 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Bank of New York Mellon Corp grew its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZIGet Rating) by 52.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 660,213 shares of the company’s stock after acquiring an additional 228,491 shares during the period. Bank of New York Mellon Corp owned about 0.16% of ZoomInfo Technologies worth $39,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZI. Capital World Investors raised its stake in ZoomInfo Technologies by 27.5% in the fourth quarter. Capital World Investors now owns 26,343,070 shares of the company’s stock worth $1,691,225,000 after buying an additional 5,679,231 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in ZoomInfo Technologies by 80.5% in the fourth quarter. 1832 Asset Management L.P. now owns 4,394,600 shares of the company’s stock worth $285,348,000 after purchasing an additional 1,960,382 shares during the period. Jennison Associates LLC grew its holdings in ZoomInfo Technologies by 33.5% in the first quarter. Jennison Associates LLC now owns 7,462,240 shares of the company’s stock worth $445,794,000 after purchasing an additional 1,871,380 shares during the period. State Street Corp grew its holdings in ZoomInfo Technologies by 164.4% in the fourth quarter. State Street Corp now owns 2,865,295 shares of the company’s stock worth $183,952,000 after purchasing an additional 1,781,775 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in ZoomInfo Technologies by 11.2% in the fourth quarter. Allianz Asset Management GmbH now owns 14,300,561 shares of the company’s stock worth $918,096,000 after purchasing an additional 1,444,309 shares during the period. 91.42% of the stock is owned by institutional investors.

ZoomInfo Technologies Stock Down 1.2 %

ZI opened at $40.85 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58. ZoomInfo Technologies Inc. has a 1-year low of $30.31 and a 1-year high of $79.17. The company has a market capitalization of $16.48 billion, a PE ratio of 151.30, a PEG ratio of 2.63 and a beta of 1.39. The firm’s 50 day simple moving average is $41.52 and its two-hundred day simple moving average is $46.17.

ZoomInfo Technologies (NASDAQ:ZIGet Rating) last released its quarterly earnings results on Monday, August 1st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. ZoomInfo Technologies had a net margin of 13.61% and a return on equity of 7.16%. The business had revenue of $267.10 million for the quarter, compared to the consensus estimate of $254.45 million. During the same period last year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was up 53.5% on a year-over-year basis. As a group, equities analysts forecast that ZoomInfo Technologies Inc. will post 0.45 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on ZI. Canaccord Genuity Group cut their price objective on shares of ZoomInfo Technologies from $68.00 to $56.00 in a report on Thursday, August 4th. TheStreet cut shares of ZoomInfo Technologies from a “c-” rating to a “d” rating in a report on Thursday, May 19th. Morgan Stanley cut their price objective on shares of ZoomInfo Technologies from $81.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, July 14th. Barclays cut their price target on shares of ZoomInfo Technologies from $64.00 to $50.00 and set an “overweight” rating on the stock in a report on Monday, July 18th. Finally, Credit Suisse Group cut their price target on shares of ZoomInfo Technologies from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, August 2nd. Seventeen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $69.06.

Insiders Place Their Bets

In other news, major shareholder Subsidiary Holdings L.L.C. Cg sold 167,755 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $50.85, for a total transaction of $8,530,341.75. Following the sale, the insider now directly owns 40,307,862 shares in the company, valued at approximately $2,049,654,782.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ZoomInfo Technologies news, major shareholder Subsidiary Holdings L.L.C. Cg sold 167,755 shares of ZoomInfo Technologies stock in a transaction on Monday, August 15th. The shares were sold at an average price of $50.85, for a total value of $8,530,341.75. Following the sale, the insider now directly owns 40,307,862 shares in the company, valued at approximately $2,049,654,782.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Joseph Christopher Hays sold 45,701 shares of ZoomInfo Technologies stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $44.01, for a total transaction of $2,011,301.01. Following the completion of the sale, the chief operating officer now owns 622,651 shares in the company, valued at $27,402,870.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 571,663 shares of company stock worth $27,533,945. Company insiders own 9.70% of the company’s stock.

ZoomInfo Technologies Profile

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ZoomInfo Technologies Inc, through 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.

See Also

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Institutional Ownership by Quarter for ZoomInfo Technologies (NASDAQ:ZI)

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