Invesco Ltd. Buys 20,630 Shares of Ziff Davis, Inc. $ZD

Invesco Ltd. increased its stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,248 shares of the technology company’s stock after purchasing an additional 20,630 shares during the quarter. Invesco Ltd. owned about 0.43% of Ziff Davis worth $6,999,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Ziff Davis by 148.4% during the first quarter. GAMMA Investing LLC now owns 713 shares of the technology company’s stock valued at $27,000 after purchasing an additional 426 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Ziff Davis by 118.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,605 shares of the technology company’s stock valued at $196,000 after buying an additional 1,952 shares during the period. Western Wealth Management LLC acquired a new position in Ziff Davis in the fourth quarter valued at approximately $217,000. PNC Financial Services Group Inc. lifted its holdings in Ziff Davis by 75.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,139 shares of the technology company’s stock valued at $231,000 after buying an additional 2,645 shares during the period. Finally, Sherbrooke Park Advisers LLC lifted its holdings in Ziff Davis by 10.9% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,369 shares of the technology company’s stock valued at $292,000 after buying an additional 527 shares during the period. 99.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ZD shares. Susquehanna cut their price objective on shares of Ziff Davis from $80.00 to $45.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Barclays reiterated a “positive” rating on shares of Ziff Davis in a report on Friday, August 8th. UBS Group set a $40.00 target price on shares of Ziff Davis and gave the stock a “neutral” rating in a report on Wednesday, May 14th. Wall Street Zen upgraded shares of Ziff Davis from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Piper Sandler set a $40.00 target price on shares of Ziff Davis in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.86.

Ziff Davis Trading Down 0.3%

Shares of NASDAQ:ZD opened at $37.74 on Wednesday. Ziff Davis, Inc. has a 12 month low of $28.55 and a 12 month high of $60.62. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $33.04 and its 200 day simple moving average is $35.51. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 25.16 and a beta of 1.63.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.02. Ziff Davis had a net margin of 4.57% and a return on equity of 13.91%. The business had revenue of $352.21 million for the quarter, compared to analyst estimates of $337.47 million. During the same period last year, the business posted $1.18 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, research analysts forecast that Ziff Davis, Inc. will post 5.93 EPS for the current fiscal year.

Ziff Davis Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.