ZoomInfo Technologies (NASDAQ:GTM) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

ZoomInfo Technologies (NASDAQ:GTM) posted its quarterly earnings results on Wednesday. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08, FiscalAI reports. ZoomInfo Technologies had a negative net margin of 43.01% and a positive return on equity of 20.16%. The business had revenue of $308.80 million during the quarter. During the same quarter in the prior year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year.

ZoomInfo Technologies Stock Up 0.5%

ZoomInfo Technologies stock traded up $0.02 during trading hours on Wednesday, reaching $4.26. The stock had a trading volume of 5,814,658 shares, compared to its average volume of 8,947,670. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -2.29, a PEG ratio of 0.47 and a beta of 0.79. The business’s 50 day moving average price is $4.01 and its 200-day moving average price is $4.73. ZoomInfo Technologies has a 52 week low of $2.54 and a 52 week high of $11.98. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.65 and a quick ratio of 0.65.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Thursday, August 6th. Wells Fargo & Company reduced their price objective on shares of ZoomInfo Technologies from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, July 20th. DA Davidson lowered their target price on ZoomInfo Technologies from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Thursday, August 6th. Stifel Nicolaus increased their target price on ZoomInfo Technologies from $3.50 to $4.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Finally, Citigroup increased their target price on ZoomInfo Technologies from $2.00 to $2.50 and gave the company a “sell” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, ZoomInfo Technologies presently has an average rating of “Reduce” and a consensus target price of $5.38.

Insider Buying and Selling at ZoomInfo Technologies

In other news, CRO James Roth sold 20,773 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $3.70, for a total value of $76,860.10. Following the sale, the executive directly owned 270,507 shares in the company, valued at approximately $1,000,875.90. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,135 shares of company stock valued at $109,908. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ZoomInfo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of GTM. Crossmark Global Holdings Inc. grew its holdings in ZoomInfo Technologies by 18.5% in the third quarter. Crossmark Global Holdings Inc. now owns 18,502 shares of the company’s stock worth $70,000 after purchasing an additional 2,882 shares during the last quarter. Ullmann Wealth Partners Group LLC increased its position in shares of ZoomInfo Technologies by 33.0% during the third quarter. Ullmann Wealth Partners Group LLC now owns 16,346 shares of the company’s stock worth $62,000 after purchasing an additional 4,055 shares in the last quarter. Parallel Advisors LLC increased its position in shares of ZoomInfo Technologies by 105.1% during the first quarter. Parallel Advisors LLC now owns 7,975 shares of the company’s stock worth $48,000 after purchasing an additional 4,086 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ZoomInfo Technologies by 118.5% during the third quarter. GAMMA Investing LLC now owns 8,055 shares of the company’s stock worth $31,000 after purchasing an additional 4,369 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its position in shares of ZoomInfo Technologies by 13.3% during the first quarter. Pictet Asset Management Holding SA now owns 44,184 shares of the company’s stock worth $264,000 after purchasing an additional 5,203 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

ZoomInfo Technologies Company Profile

ZoomInfo Technologies provides cloud-based go-to-market intelligence and sales-enablement software for businesses. Its platform helps organizations identify prospective customers, understand account and contact information, monitor business activity, and coordinate sales and marketing efforts. The company serves customers across a range of industries and geographies, primarily through subscription-based software services.

Its product portfolio has included SalesOS, MarketingOS, OperationsOS and related tools designed to support business-to-business prospecting, account-based marketing, data management and revenue operations.