Fidelity Management & Research Co.. recently announced the acquisition of new stake in ZoomInfo Technologies Inc. (NASDAQ:ZI). This fresh investment now brings its stake to 11.17% valued currently at $237.65 million. In addition, Capital Research & Management Co.. raised its holdings by 4.29 million to 4.29 million shares.
With over 2.85 million ZoomInfo Technologies Inc. (ZI) shares trading Monday and a closing price of $38.82 on the day, the dollar volume was approximately $110.49 million. The shares have shown a positive weekly performance of 4.81% and its price on 08/31/20 gained nearly 4.33%. Currently, there are 150.10M common shares owned by the public and among those 51.99M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for ZI have a consensus price objective of $53.53. The analysts have set the share’s price value over the next 12 months at a high of $63.00 and a low of $45.00 should the stock experience a downside. Incidentally, analysts’ outlook for the ZoomInfo Technologies Inc. stock is 2.40 for the next 12 months. The average price target is 27.83% above its last price level and an upside to the estimated low will see the stock gain 13.73% over that period. But an upside of 38.38% will see the stock hit the forecast high price target while mean target price for the stock is $50.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 8,197,378 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 8,197,378 shares.
The top 3 mutual fund holders in ZoomInfo Technologies Inc. are American Funds New Economy Fund, American Funds Growth Fund of Ame, and Baron Asset Fund. American Funds New Economy Fund owns 3.28 million shares of the company’s stock, all valued at over $133.95 million. The company bought an additional 3.28 million shares recently to bring their total holdings to about 6.30% of the shares outstanding. Baron Asset Fund bought 1.75 million shares to bring its total holdings to over 1.75 million shares at a value of $71.35 million. Baron Asset Fund now owns shares totaling to 3.35% of the shares outstanding.
Shares of ZoomInfo Technologies Inc. (NASDAQ: ZI) opened at $37.35, up $0.14 from a prior closing price of $37.21. However, the script later closed the day at $38.82, up 4.33%. It has a 12-month low price of $32.10 and touched a high of $64.40 over the same period. Currently, 2.85 million shares have been traded, compared to an average intraday trading volume of 3.32 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.56%, -9.22%, and -10.45% respectively.
Institutional ownership of ZoomInfo Technologies Inc. (NASDAQ: ZI) shares accounts for 78.60% of the company’s 150.10M shares outstanding. Mutual fund holders own 21.44%, while other institutional holders and individual stakeholders account for 50.92% and — respectively.
It has a market capitalization of $15.04B. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.31% over the week and 6.44% over the month.
Analysts forecast that ZoomInfo Technologies Inc. (ZI) will achieve an EPS of $0.09 for the current quarter, $0.09 for the next quarter and $0.45 for 2021. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.09. Earnings per share for the fiscal year are expected to decrease by -172.70%, and 49.66% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate ZoomInfo Technologies Inc. (ZI) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 9 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ZI, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on June 30, 2020, with the firm’s price target at $50. Wells Fargo coverage for the ZoomInfo Technologies Inc. (ZI) stock in a research note released on June 29, 2020 offered a Equal Weight rating with a price target of $55. UBS was of a view on June 29, 2020 that the stock is Neutral, while SunTrust gave the stock Buy rating on June 29, 2020, issuing a price target of $60. Stifel on their part issued Buy rating on June 29, 2020.