Hotchkis & Wiley Capital Management LLC Makes New Investment in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Hotchkis & Wiley Capital Management LLC acquired a new position in ZoomInfo Technologies Inc. (NASDAQ:ZI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 609,820 shares of the company’s stock, valued at approximately $6,293,000.

Several other hedge funds have also added to or reduced their stakes in ZI. FMR LLC raised its position in ZoomInfo Technologies by 27.7% in the third quarter. FMR LLC now owns 33,053,422 shares of the company’s stock worth $341,111,000 after acquiring an additional 7,177,687 shares during the period. Pacer Advisors Inc. raised its position in shares of ZoomInfo Technologies by 8,471.7% in the second quarter. Pacer Advisors Inc. now owns 6,689,198 shares of the company’s stock valued at $85,421,000 after purchasing an additional 6,611,160 shares during the period. Marshall Wace LLP bought a new stake in shares of ZoomInfo Technologies in the second quarter valued at approximately $73,435,000. Maverick Capital Ltd. bought a new stake in shares of ZoomInfo Technologies in the third quarter valued at approximately $44,248,000. Finally, Primecap Management Co. CA raised its position in shares of ZoomInfo Technologies by 97.6% in the third quarter. Primecap Management Co. CA now owns 2,565,440 shares of the company’s stock valued at $26,475,000 after purchasing an additional 1,267,171 shares during the period. Institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Price Performance

Shares of ZoomInfo Technologies stock opened at $10.97 on Friday. ZoomInfo Technologies Inc. has a 52-week low of $7.65 and a 52-week high of $19.39. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 365.79, a price-to-earnings-growth ratio of 14.63 and a beta of 1.02. The company has a fifty day moving average of $10.67 and a 200-day moving average of $10.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

Insider Activity

In other news, CEO Henry Schuck purchased 492,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost 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 of the company’s stock, valued at $125,875,135.25. This represents a 4.18 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Ali Dasdan sold 4,898 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $11.01, for a total transaction of $53,926.98. Following the completion of the transaction, the chief technology officer now owns 118,659 shares of the company’s stock, valued at $1,306,435.59. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on ZI shares. Citigroup boosted their price target on shares of ZoomInfo Technologies from $7.00 to $8.50 and gave the company a “sell” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of ZoomInfo Technologies in a research report on Wednesday, November 13th. Daiwa Capital Markets lowered shares of 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 research report on Tuesday, August 13th. Piper Sandler boosted their price objective on shares of ZoomInfo Technologies from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Daiwa America cut shares of ZoomInfo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.72.

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.