Bank of New York Mellon Corp Purchases 223,669 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Bank of New York Mellon Corp boosted its holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,289,360 shares of the company's stock after purchasing an additional 223,669 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.88% of ZoomInfo Technologies worth $42,005,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp grew its stake in shares of ZoomInfo Technologies by 955.2% in the second quarter. J.Safra Asset Management Corp now owns 2,638 shares of the company's stock worth $34,000 after purchasing an additional 2,388 shares in the last quarter. Fifth Third Bancorp raised its position in shares of ZoomInfo Technologies by 44.0% during the 1st quarter. Fifth Third Bancorp now owns 2,381 shares of the company's stock worth $38,000 after buying an additional 728 shares in the last quarter. Covestor Ltd lifted its stake in shares of ZoomInfo Technologies by 598.5% in the 1st quarter. Covestor Ltd now owns 3,339 shares of the company's stock worth $54,000 after acquiring an additional 2,861 shares during the period. Quest Partners LLC acquired a new position in shares of ZoomInfo Technologies during the fourth quarter valued at approximately $62,000. Finally, Quadrant Capital Group LLC raised its holdings in ZoomInfo Technologies by 85.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,885 shares of the company's stock worth $72,000 after purchasing an additional 1,786 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company's stock.

Insider Buying and Selling

In related news, Director Mark Patrick Mader sold 3,112 shares of the business's stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total value of $39,771.36. Following the completion of the transaction, the director now directly owns 17,622 shares in the company, valued at approximately $225,209.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Henry Schuck acquired 1,500,000 shares of ZoomInfo Technologies stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $8.49 per share, with a total value of $12,735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 11,788,001 shares in the company, valued at approximately $100,080,128.49. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark Patrick Mader sold 3,112 shares of the company's stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $12.78, for a total transaction of $39,771.36. Following the completion of the transaction, the director now owns 17,622 shares in the company, valued at $225,209.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,974 shares of company stock valued at $298,154. 8.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZI. Wells Fargo & Company reduced their target price on shares of ZoomInfo Technologies from $19.00 to $14.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Daiwa Capital Markets downgraded ZoomInfo Technologies from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $15.00 to $9.00 in a report on Tuesday, August 13th. Piper Sandler decreased their price target on shares of ZoomInfo Technologies from $14.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. Needham & Company LLC dropped their target price on ZoomInfo Technologies from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of ZoomInfo Technologies from $17.00 to $12.00 and set a "hold" rating on the stock in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.40.

ZoomInfo Technologies Trading Up 1.6 %

ZoomInfo Technologies stock traded up $0.16 during trading hours on Monday, reaching $9.89. 5,883,100 shares of the company's stock traded hands, compared to its average volume of 6,644,348. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 6.05 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 0.97. ZoomInfo Technologies Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $19.39. The firm's 50 day moving average is $10.82 and its 200-day moving average is $13.46.

ZoomInfo Technologies (NASDAQ:ZI - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.07). ZoomInfo Technologies had a return on equity of 10.96% and a net margin of 1.25%. The company had revenue of $291.50 million for the quarter, compared to analyst estimates of $307.68 million. During the same period last year, the firm earned $0.16 earnings per share. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts predict that ZoomInfo Technologies Inc. will post 0.55 earnings per share for the current year.

ZoomInfo Technologies Profile

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.