Retirement Systems of Alabama Raises Position in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Retirement Systems of Alabama raised its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI - Free Report) by 304.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,417,844 shares of the company's stock after purchasing an additional 1,067,299 shares during the quarter. Retirement Systems of Alabama owned 0.41% of ZoomInfo Technologies worth $14,902,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Journey Strategic Wealth LLC purchased a new stake in shares of ZoomInfo Technologies in the fourth quarter worth about $140,000. Gries Financial LLC acquired a new position in shares of ZoomInfo Technologies during the fourth quarter valued at approximately $147,000. KBC Group NV raised its holdings in shares of ZoomInfo Technologies by 2,644.4% during the fourth quarter. KBC Group NV now owns 257,781 shares of the company's stock valued at $2,709,000 after acquiring an additional 248,388 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of ZoomInfo Technologies by 10,586.7% in the fourth quarter. Blue Trust Inc. now owns 20,839 shares of the company's stock valued at $215,000 after purchasing an additional 20,644 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of ZoomInfo Technologies by 47.8% in 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 during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Mizuho raised their price target on ZoomInfo Technologies from $9.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th. Piper Sandler restated an "underweight" rating and set a $10.00 price target (down from $11.00) on shares of ZoomInfo Technologies in a research report on Monday, January 6th. Needham & Company LLC restated a "buy" rating and set a $15.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Citigroup lifted their target price on ZoomInfo Technologies from $8.50 to $9.00 and gave the company a "sell" rating in a report on Tuesday. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $11.00 target price (down from $14.00) on shares of ZoomInfo Technologies in a report on Tuesday, January 7th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.15.

ZoomInfo Technologies Stock Performance

ZI stock traded down $0.06 during trading on Tuesday, hitting $10.22. The company had a trading volume of 3,164,626 shares, compared to its average volume of 6,695,968. The firm has a market cap of $3.51 billion, a PE ratio of 340.78, a price-to-earnings-growth ratio of 13.57 and a beta of 1.01. ZoomInfo Technologies Inc. has a 1-year low of $7.65 and a 1-year high of $18.69. The firm has a 50-day moving average price of $10.40 and a 200-day moving average price of $10.33. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.73.

Insiders Place Their Bets

In other news, CEO Henry Schuck purchased 492,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average price of $10.25 per share, for a total transaction of $5,048,125.00. Following the acquisition, the chief executive officer now directly owns 12,280,501 shares in the company, valued at approximately $125,875,135.25. The trade was a 4.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Randall Winn sold 290,541 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $11.06, for a total value of $3,213,383.46. Following the sale, the director now owns 1,266,807 shares in the company, valued at approximately $14,010,885.42. This trade represents a 18.66 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

ZoomInfo Technologies Company 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.