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 8.49% valued currently at $611.89 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.
Currently, there are 404.07M common shares owned by the public and among those 293.13M shares have been available to trade.
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Insiders at the company have transacted a total of 107 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 355,392 shares. Insider sales of the common stock occurred on 75 occasions, with total insider shares sold totaling 73,409,006 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 Small Cap Index Fund. Vanguard Total Stock Market ETF owns 11.05 million shares of the company’s stock, all valued at over $204.27 million. The company sold -0.3 million shares recently to bring their total holdings to about 2.83% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 8140.0 shares to see its total holdings expand to 9.0 million shares valued at over $166.42 million and representing 2.31% of the shares outstanding. Vanguard Small Cap Index Fund bought 4.25 million shares to bring its total holdings to over 8.93 million shares at a value of $165.1 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.29% of the shares outstanding.
The company’s stock has a 5-day price change of 6.85% and 8.64% over the past three months. ZI shares are trading -8.87% year to date (YTD), with the 12-month market performance down to -38.73% lower. It has a 12-month low price of $12.36 and touched a high of $30.98 over the same period. ZI has an average intraday trading volume of 7.15 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 2.93%, 5.22%, and -13.43% respectively.
Institutional ownership of ZoomInfo Technologies Inc. (NASDAQ: ZI) shares accounts for 72.54% of the company’s 404.07M shares outstanding. Mutual fund holders own 33.10%, while other institutional holders and individual stakeholders account for 40.26% and 29.74% respectively.
It has a market capitalization of $6.57B and a beta (3y monthly) value of 1.16. The stock’s trailing 12-month PE ratio is 49.79, while the earnings-per-share (ttm) stands at $0.34. The company has a PEG of 5.72 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 2.77% over the week and 3.20% 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 13.47%, and -0.33% over the next financial year.
Looking at the support for the ZI, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on Jan-30-24, with the firm’s price target at $20-$25.
