PNC Financial Services Group Inc. Acquires 9,060 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

PNC Financial Services Group Inc. grew its holdings in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI) by 96.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,456 shares of the company’s stock after acquiring an additional 9,060 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ZoomInfo Technologies were worth $341,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ZI. Norges Bank purchased a new position in ZoomInfo Technologies in the 4th quarter worth approximately $55,448,000. Bailard Inc. boosted its position in ZoomInfo Technologies by 420.0% during the 4th quarter. Bailard Inc. now owns 129,595 shares of the company’s stock valued at $2,396,000 after buying an additional 104,675 shares during the period. Aquila Investment Management LLC grew its holdings in ZoomInfo Technologies by 155.8% in the 4th quarter. Aquila Investment Management LLC now owns 243,000 shares of the company’s stock worth $4,493,000 after acquiring an additional 148,000 shares during the last quarter. Kodai Capital Management LP bought a new stake in ZoomInfo Technologies in the 4th quarter worth $3,072,000. Finally, G2 Investment Partners Management LLC purchased a new position in shares of ZoomInfo Technologies in the fourth quarter valued at about $2,188,000. 95.47% of the stock is currently owned by institutional investors.

ZoomInfo Technologies Stock Up 2.2 %

Shares of ZoomInfo Technologies stock opened at $12.77 on Friday. ZoomInfo Technologies Inc. has a twelve month low of $11.67 and a twelve month high of $30.16. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $13.41 and its 200 day moving average is $15.43. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 3.00 and a beta of 1.05.

ZoomInfo Technologies (NASDAQ:ZI) last announced its earnings results on Tuesday, May 7th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. The business had revenue of $310.10 million during the quarter, compared to analyst estimates of $308.84 million. ZoomInfo Technologies had a net margin of 6.24% and a return on equity of 12.00%. Research analysts anticipate that ZoomInfo Technologies Inc. will post 0.69 EPS for the current year.

Analyst Ratings Changes

ZI has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their target price on shares of ZoomInfo Technologies from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Morgan Stanley reduced their target price on ZoomInfo Technologies from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. UBS Group dropped their price target on ZoomInfo Technologies from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Mizuho cut shares of ZoomInfo Technologies from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $14.00 in a report on Wednesday, May 8th. Finally, Barclays decreased their price objective on shares of ZoomInfo Technologies from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.90.

Insiders Place Their Bets

In other news, CTO Ali Dasdan sold 5,862 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total transaction of $69,757.80. Following the completion of the sale, the chief technology officer now owns 87,540 shares of the company’s stock, valued at approximately $1,041,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark Patrick Mader sold 3,112 shares of ZoomInfo Technologies stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $12.78, for a total transaction of $39,771.36. Following the transaction, the director now directly owns 17,622 shares in the company, valued at $225,209.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Ali Dasdan sold 5,862 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $11.90, for a total value of $69,757.80. Following the sale, the chief technology officer now directly owns 87,540 shares of the company’s stock, valued at approximately $1,041,726. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,474 shares of company stock valued at $205,379. Insiders own 8.10% of the company’s stock.

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.