Bank of New York Mellon Corp Purchases 91,389 Shares of ZoomInfo Technologies Inc. (NASDAQ:ZI)

Posted by Defense World Staff on Mar 10th, 2023

Bank of New York Mellon Corp lifted its position in shares of ZoomInfo Technologies Inc. (NASDAQ:ZI – Get Rating) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494,240 shares of the company’s stock after purchasing an additional 91,389 shares during the period. Bank of New York Mellon Corp owned 0.37% of ZoomInfo Technologies worth $62,250,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new position in shares of ZoomInfo Technologies during the third quarter valued at about $26,000. Private Trust Co. NA bought a new stake in ZoomInfo Technologies in the second quarter worth about $33,000. Dupont Capital Management Corp bought a new stake in ZoomInfo Technologies in the third quarter worth about $38,000. Truvestments Capital LLC bought a new stake in ZoomInfo Technologies in the second quarter worth about $47,000. Finally, CWM LLC raised its position in ZoomInfo Technologies by 261.5% in the third quarter. CWM LLC now owns 1,193 shares of the company’s stock worth $50,000 after acquiring an additional 863 shares during the period. 84.96% of the stock is owned by institutional investors.

ZoomInfo Technologies Price Performance

ZI opened at $24.18 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The stock’s 50 day simple moving average is $26.65 and its 200 day simple moving average is $33.61. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 151.13, a PEG ratio of 2.45 and a beta of 0.95. ZoomInfo Technologies Inc. has a 1 year low of $23.29 and a 1 year high of $61.44.

Insider Activity

In other news, CEO Henry Schuck sold 1,000,000 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $25.54, for a total transaction of $25,540,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,288,001 shares of the company’s stock, valued at $339,375,545.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 3,000,000 shares of company stock valued at $81,980,000. 9.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their target price on shares of ZoomInfo Technologies from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, February 7th. Raymond James decreased their target price on ZoomInfo Technologies from $41.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 1st. Truist Financial downgraded ZoomInfo Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $65.00 to $28.00 in a research report on Tuesday, January 10th. Barclays decreased their price objective on shares of ZoomInfo Technologies from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 7th. Finally, The Goldman Sachs Group dropped their target price on shares of ZoomInfo Technologies from $54.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, January 25th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, ZoomInfo Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $38.56.

About ZoomInfo Technologies

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ZoomInfo Technologies Inc, through 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.