The Vanguard Group, Inc. recently announced the acquisition of new stake in ZoomInfo Technologies Inc. (NASDAQ:ZI). The institutional investor has increased its shareholding in the Technology company by 6.65% to 33.09 million shares with purchase of 2.06 million shares. This fresh investment now brings its stake to 8.24% valued currently at $428.89 million. In addition, Wellington Management Co. LLP raised its holdings by 0.59 million to 29.57 million shares. And BlackRock Fund Advisors has lifted its position by 11.45% or 2.77 million shares – to 26.96 million shares.
With over 7.07 million ZoomInfo Technologies Inc. (ZI) shares trading Monday and a closing price of $16.15 on the day, the dollar volume was approximately $114.25 million. The shares have shown a negative half year performance of -39.49% and its price on 12/11/23 gained nearly 3.26%. Currently, there are 404.07M common shares owned by the public and among those 295.95M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for ZI have a consensus price objective of $19.80. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $15.00. The average price target is 18.43% above its recent price level and a downside to the estimated low will see the stock lose -7.67% over that period. But an upside of 35.4% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
Insiders at the company have transacted a total of 115 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 542,553 shares. Insider sales of the common stock occurred on 82 occasions, with total insider shares sold totaling 75,492,340 shares.
The top 3 mutual fund holders in ZoomInfo Technologies Inc. are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard US Growth Fund. Vanguard Total Stock Market ETF owns 11.33 million shares of the company’s stock, all valued at over $146.86 million. The company bought an additional 20097.0 shares recently to bring their total holdings to about 2.82% of the shares outstanding. Vanguard US Growth Fund bought 2.26 million shares to bring its total holdings to over 8.84 million shares at a value of $114.55 million. Vanguard US Growth Fund now owns shares totaling to 2.20% of the shares outstanding.
Shares of ZoomInfo Technologies Inc. (NASDAQ: ZI) opened at $15.55, down -$0.09 from a prior closing price of $15.64. However, the script later moved the day high at 16.18, up 3.26%. The company’s stock has a 5-day price change of 9.79% and -9.27% over the past three months. ZI shares are trading -46.36% year to date (YTD), with the 12-month market performance down to -43.33% lower. It has a 12-month low price of $12.36 and touched a high of $32.41 over the same period. ZI has an average intraday trading volume of 6.80 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 14.42%, 7.58%, and -21.39% respectively.
Institutional ownership of ZoomInfo Technologies Inc. (NASDAQ: ZI) shares accounts for 73.16% of the company’s 404.07M shares outstanding. Mutual fund holders own 33.50%, while other institutional holders and individual stakeholders account for 38.35% and 28.87% respectively.
It has a market capitalization of $6.29B and a beta (3y monthly) value of 1.09. The stock’s trailing 12-month PE ratio is 47.72, while the earnings-per-share (ttm) stands at $0.34. The company has a PEG of 5.48 and a Quick Ratio of 1.49 with the debt-to-equity ratio at 0.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.18% over the week and 4.07% over the month.
Analysts forecast that ZoomInfo Technologies Inc. (ZI) will achieve an EPS of $0.25 for the current quarter, $0.23 for the next quarter and $0.99 for 2024. The lowest estimate earnings-per-share for the quarter is $0.24 while analysts give the company a high EPS estimate of $0.26. Comparatively, EPS for the current quarter was $0.26 a year ago. Earnings per share for the fiscal year are expected to increase by 13.50%, and -0.37% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate ZoomInfo Technologies Inc. (ZI) as a “Strong Buy” at a consensus score of 1.95. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 9 of the 22 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. Goldman stated their Neutral rating for the stock in a research note on November 01, 2023, with the firm’s price target at $30-$17.
