Primecap Management Co. CA Acquires 1,806,461 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Primecap Management Co. CA increased its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 70.4% during the fourth quarter, HoldingsChannel reports. The firm owned 4,371,901 shares of the company’s stock after buying an additional 1,806,461 shares during the period. Primecap Management Co. CA’s holdings in ZoomInfo Technologies were worth $45,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of ZoomInfo Technologies by 47.8% during the fourth quarter. Fifth Third Bancorp now owns 3,836 shares of the company’s stock valued at $40,000 after purchasing an additional 1,241 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ZoomInfo Technologies by 29.1% during the fourth quarter. GAMMA Investing LLC now owns 5,152 shares of the company’s stock valued at $54,000 after purchasing an additional 1,160 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of ZoomInfo Technologies by 343.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,115 shares of the company’s stock valued at $64,000 after purchasing an additional 4,735 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of ZoomInfo Technologies by 183.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 8,441 shares of the company’s stock valued at $89,000 after purchasing an additional 5,468 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of ZoomInfo Technologies by 39.0% during the third quarter. KBC Group NV now owns 9,393 shares of the company’s stock valued at $97,000 after purchasing an additional 2,635 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ZI. Morgan Stanley upped their price objective on ZoomInfo Technologies from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their price objective on ZoomInfo Technologies from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of ZoomInfo Technologies in a research report on Wednesday, February 26th. Wells Fargo & Company upped their price objective on ZoomInfo Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Barclays upped their price objective on ZoomInfo Technologies from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, ZoomInfo Technologies currently has an average rating of “Hold” and an average price target of $11.92.

ZoomInfo Technologies Price Performance

Shares of ZoomInfo Technologies stock opened at $10.49 on Wednesday. The stock has a 50 day moving average of $10.42 and a 200 day moving average of $10.51. ZoomInfo Technologies Inc. has a 12 month low of $7.65 and a 12 month high of $16.98. The firm has a market cap of $3.59 billion, a PE ratio of 349.78, a PEG ratio of 13.05 and a beta of 0.97. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.73.

ZoomInfo Technologies (NASDAQ:ZI) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The firm had revenue of $309.10 million for the quarter, compared to the consensus estimate of $297.64 million. On average, research analysts expect that ZoomInfo Technologies Inc. will post 0.59 EPS for the current fiscal year.

About ZoomInfo Technologies

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.