Bank of New York Mellon Corp Reduces Holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Bank of New York Mellon Corp reduced its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 27.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,167,002 shares of the company’s stock after selling 815,859 shares during the period. Bank of New York Mellon Corp owned approximately 0.63% of ZoomInfo Technologies worth $21,670,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of ZI. Xponance Inc. lifted its holdings in shares of ZoomInfo Technologies by 3.5% in the fourth quarter. Xponance Inc. now owns 36,173 shares of the company’s stock valued at $380,000 after purchasing an additional 1,226 shares in the last quarter. GAMMA Investing LLC increased its position in ZoomInfo Technologies by 28.8% during the first quarter. GAMMA Investing LLC now owns 6,636 shares of the company’s stock worth $66,000 after purchasing an additional 1,484 shares during the last quarter. UMB Bank n.a. increased its position in ZoomInfo Technologies by 125.3% during the first quarter. UMB Bank n.a. now owns 3,396 shares of the company’s stock worth $34,000 after purchasing an additional 1,889 shares during the last quarter. Wedmont Private Capital grew its stake in ZoomInfo Technologies by 18.8% during the first quarter. Wedmont Private Capital now owns 14,386 shares of the company’s stock worth $144,000 after buying an additional 2,272 shares during the period. Finally, State of Tennessee Department of Treasury grew its stake in ZoomInfo Technologies by 2.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 95,894 shares of the company’s stock worth $1,008,000 after buying an additional 2,294 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZI has been the topic of a number of research reports. Mizuho dropped their target price on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. DA Davidson reduced their price objective on shares of ZoomInfo Technologies from $13.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Piper Sandler upped their price target on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price target on shares of ZoomInfo Technologies from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley decreased their price target on shares of ZoomInfo Technologies from $13.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.63.

ZoomInfo Technologies Price Performance

Shares of ZI stock opened at $10.35 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73. The business’s fifty day moving average is $9.95 and its 200 day moving average is $9.86. ZoomInfo Technologies Inc. has a twelve month low of $7.01 and a twelve month high of $13.39. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 345.12, a PEG ratio of 13.05 and a beta of 1.02.

ZoomInfo Technologies (NASDAQ:ZI) last released its earnings results on Monday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $305.70 million during the quarter, compared to analysts’ expectations of $295.60 million. ZoomInfo Technologies had a return on equity of 12.05% and a net margin of 0.74%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. Research analysts expect that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal 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.