Texas Permanent School Fund Decreases Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Texas Permanent School Fund decreased its position in shares of Ziff Davis, Inc. (NASDAQ:ZD – Get Rating) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,910 shares of the technology company’s stock after selling 383 shares during the period. Texas Permanent School Fund owned 0.07% of Ziff Davis worth $2,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZD. Zions Bancorporation N.A. purchased a new position in shares of Ziff Davis in the first quarter worth $25,000. Ronald Blue Trust Inc. purchased a new position in shares of Ziff Davis in the second quarter worth $30,000. New Millennium Group LLC purchased a new position in shares of Ziff Davis in the second quarter worth $57,000. Harbor Investment Advisory LLC raised its holdings in shares of Ziff Davis by 21.1% in the second quarter. Harbor Investment Advisory LLC now owns 879 shares of the technology company’s stock worth $66,000 after buying an additional 153 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Ziff Davis in the second quarter worth $78,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Ziff Davis Stock Up 2.0 %

ZD stock opened at $82.12 on Tuesday. The firm has a market cap of $3.88 billion, a PE ratio of 11.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.34 and a current ratio of 2.34. The firm’s fifty day moving average is $83.37 and its 200 day moving average is $79.46. Ziff Davis, Inc. has a one year low of $66.85 and a one year high of $110.94.

Ziff Davis (NASDAQ:ZD – Get Rating) last announced its earnings results on Tuesday, November 8th. The technology company reported $1.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.46. Ziff Davis had a net margin of 25.32% and a return on equity of 15.60%. The business had revenue of $341.87 million for the quarter, compared to analyst estimates of $348.88 million. On average, research analysts forecast that Ziff Davis, Inc. will post 6.32 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on ZD. Barclays began coverage on shares of Ziff Davis in a report on Friday. They issued an “equal weight” rating and a $88.00 price target for the company. JPMorgan Chase & Co. lowered shares of Ziff Davis from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $115.00 to $85.00 in a research note on Tuesday, December 20th. Evercore ISI started coverage on shares of Ziff Davis in a research note on Tuesday, September 20th. They issued an “outperform” rating and a $90.00 price objective on the stock. TheStreet upgraded shares of Ziff Davis from a “c+” rating to a “b-” rating in a research note on Tuesday, November 29th. Finally, Citigroup started coverage on shares of Ziff Davis in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $100.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.80.

Insider Activity

In other news, EVP Jeremy Rossen sold 2,199 shares of Ziff Davis stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $85.68, for a total value of $188,410.32. Following the sale, the executive vice president now owns 5,898 shares in the company, valued at $505,340.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

About Ziff Davis

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Ziff Davis, Inc, together with its subsidiaries, provides internet information and services in the United States, Canada, Ireland, and internationally. It operates in two segments, Digital Media, and Cybersecurity and Martech. The Digital Media segment operates a portfolio of web properties and apps, which include IGN, RetailMeNot, Mashable, PCMag, Humble Bundle, Speedtest, Offers, Black Friday, MedPageToday, Everyday Health, BabyCenter, and What to Expect, among others in the technology, shopping, entertainment, and health and wellness markets.