Cresset Asset Management LLC Decreases Stock Holdings in ZoomInfo Technologies Inc. (NASDAQ:ZI)

Cresset Asset Management LLC lowered its stake in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 64.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,640 shares of the company’s stock after selling 28,199 shares during the period. Cresset Asset Management LLC’s holdings in ZoomInfo Technologies were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Xponance Inc. lifted its holdings in shares of ZoomInfo Technologies by 3.5% in the fourth quarter. Xponance Inc. now owns 36,173 shares of the company’s stock valued at $380,000 after purchasing an additional 1,226 shares in the last quarter. Fifth Third Bancorp lifted 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 in the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of ZoomInfo Technologies by 2.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 95,894 shares of the company’s stock valued at $1,008,000 after purchasing an additional 2,294 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of ZoomInfo Technologies by 22.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,221 shares of the company’s stock valued at $139,000 after purchasing an additional 2,456 shares in the last quarter. Finally, Caption Management LLC lifted its holdings in shares of ZoomInfo Technologies by 31.5% in the fourth quarter. Caption Management LLC now owns 10,523 shares of the company’s stock valued at $111,000 after purchasing an additional 2,523 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ZI. Citigroup upped their price target on shares of ZoomInfo Technologies from $8.50 to $9.00 and gave the company a “sell” rating in a report on Tuesday, February 11th. Scotiabank boosted their price objective on shares of ZoomInfo Technologies from $10.30 to $11.00 and gave the company a “sector perform” rating in a research report on Thursday, February 27th. Piper Sandler boosted their price objective on shares of ZoomInfo Technologies from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Mizuho cut their price objective on shares of ZoomInfo Technologies from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley cut their price objective on shares of ZoomInfo Technologies from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.63.

ZoomInfo Technologies Stock Performance

Shares of ZI stock opened at $10.20 on Monday. ZoomInfo Technologies Inc. has a one year low of $7.01 and a one year high of $13.39. The company has a 50 day moving average price of $9.25 and a 200 day moving average price of $10.16. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 340.11, a price-to-earnings-growth ratio of 13.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.63 and a current ratio of 0.63.

ZoomInfo Technologies (NASDAQ:ZI) last released its quarterly earnings data on Monday, May 12th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. ZoomInfo Technologies had a net margin of 0.74% and a return on equity of 12.05%. The company had revenue of $305.70 million during the quarter, compared to analyst estimates of $295.60 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that ZoomInfo Technologies Inc. will post 0.59 EPS for the current 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.