Victory Capital Management Inc. Grows Position in Zuora, Inc. (NYSE:ZUO)

Victory Capital Management Inc. grew its stake in shares of Zuora, Inc. (NYSE:ZUO) by 274.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,279 shares of the company’s stock after purchasing an additional 48,601 shares during the period. Victory Capital Management Inc.’s holdings in Zuora were worth $571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Zuora by 5.6% during the first quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock worth $157,434,000 after buying an additional 917,565 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Zuora by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 67,806 shares of the company’s stock valued at $619,000 after purchasing an additional 4,760 shares in the last quarter. CWM LLC raised its holdings in Zuora by 25.0% during the second quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after purchasing an additional 1,590 shares during the last quarter. BDF Gestion purchased a new stake in Zuora during the second quarter worth $3,426,000. Finally, Diversified Trust Co grew its holdings in Zuora by 9.2% in the second quarter. Diversified Trust Co now owns 38,872 shares of the company’s stock valued at $386,000 after purchasing an additional 3,260 shares during the last quarter. 83.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZUO. Canaccord Genuity Group reiterated a “buy” rating and issued a $13.00 price objective on shares of Zuora in a research report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating and issued a $15.00 price target on shares of Zuora in a report on Monday, October 21st. Finally, Lake Street Capital reissued a “hold” rating and set a $10.00 price objective on shares of Zuora in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.43.

Insider Activity at Zuora

In related news, CFO Todd Mcelhatton sold 51,879 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $432,670.86. Following the transaction, the chief financial officer now directly owns 356,875 shares of the company’s stock, valued at approximately $2,976,337.50. This trade represents a 12.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Hirsch sold 18,855 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $9.06, for a total value of $170,826.30. Following the sale, the insider now directly owns 19,279 shares of the company’s stock, valued at approximately $174,667.74. This trade represents a 49.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,081 shares of company stock worth $1,857,391. 8.62% of the stock is currently owned by insiders.

Zuora Stock Performance

NYSE:ZUO opened at $9.92 on Friday. Zuora, Inc. has a 1-year low of $7.70 and a 1-year high of $10.85. The firm has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $9.32. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77. The firm has a market cap of $1.50 billion, a PE ratio of -31.00 and a beta of 1.70.

Zuora Profile

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.