Impax Asset Management Increases Stake in ZoomInfo Technologies by 53.4%

Impax Asset Management Group plc has significantly increased its stake in ZoomInfo Technologies Inc. (NASDAQ: ZI), boosting its holdings by 53.4% during the second quarter of 2023. The investment firm acquired an additional 35,634 shares, bringing its total ownership to 102,335 shares, which had a market value of approximately $1,036,000 as reported in its latest filing with the Securities and Exchange Commission.

Several other institutional investors have also adjusted their positions in ZoomInfo Technologies recently. For instance, Parallel Advisors LLC raised its stake by an impressive 143.6%, now owning 3,199 shares valued at $32,000 after acquiring an extra 1,886 shares. Similarly, Allworth Financial LP increased its holdings by 980.2%, resulting in a total of 3,327 shares worth $34,000 following the purchase of 3,019 shares in the last quarter.

In the first quarter, Brooklyn Investment Group enhanced its position in ZoomInfo by 180.5%, now holding 5,138 shares valued at $51,000. True Wealth Design LLC experienced a remarkable increase of 1,202.5% during the second quarter, owning 6,903 shares worth $70,000 after buying an additional 6,373 shares. Additionally, US Bancorp DE raised its holdings by 32.9%, with a total of 8,458 shares valued at $85,000 after acquiring 2,092 shares. Currently, institutional investors control 95.47% of ZoomInfo’s stock.

Analysts have been closely monitoring ZoomInfo Technologies, with several recent reports providing insights into the company’s performance and market potential. Jefferies Financial Group reaffirmed a “buy” rating and established a price target of $16.00 on November 4, 2023. In contrast, KeyCorp restated an “underweight” rating, while Needham & Company LLC maintained a “buy” rating. The Royal Bank of Canada has issued an “underperform” rating with a target price of $8.00. Currently, four analysts have rated the stock as a buy, seven have issued a hold rating, and three have assigned a sell rating. According to data from MarketBeat.com, the average rating for ZoomInfo Technologies stands at “hold,” with an average price target of $11.31.

On November 3, 2023, shares of ZoomInfo Technologies opened at $10.22, reflecting a decrease of 2.1%. The company boasts a market capitalization of $3.50 billion and has a price-to-earnings ratio of 340.78. Additionally, the fifty-day moving average stands at $10.98, while the two-hundred-day moving average is $10.38. The firm has a debt-to-equity ratio of 0.73 and liquidity ratios of 0.63 for both the quick ratio and current ratio. ZoomInfo’s stock has experienced a fifty-two week low of $7.01 and a high of $13.39.

Founded in 2018, ZoomInfo Technologies Inc. provides a comprehensive go-to-market intelligence and engagement platform for sales and marketing teams, both in the United States and internationally. The company’s cloud-based platform delivers vital information on organizations and professionals, enabling users to identify target customers and key decision-makers. Its offerings include predictive lead scoring, monitoring of buying signals, and automated sales tools, all designed to enhance user engagement throughout the sales cycle.

Investors and analysts alike will continue to watch ZoomInfo Technologies closely as the company navigates its market position and potential growth opportunities.