Cadence Capital Management LLC boosted its position in Zix Co. (NASDAQ:ZIXI) by 44.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 669,832 shares of the software maker’s stock after buying an additional 206,249 shares during the period. Cadence Capital Management LLC owned approximately 1.24% of ZIX worth $3,718,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ZIXI. Metropolitan Life Insurance Co. NY purchased a new position in ZIX in the 2nd quarter valued at $100,000. Citadel Advisors LLC purchased a new position in ZIX in the 2nd quarter valued at $106,000. Barclays PLC grew its position in ZIX by 217.8% in the 1st quarter. Barclays PLC now owns 28,835 shares of the software maker’s stock valued at $123,000 after buying an additional 19,762 shares during the last quarter. Macquarie Group Ltd. grew its position in ZIX by 62.0% in the 2nd quarter. Macquarie Group Ltd. now owns 24,300 shares of the software maker’s stock valued at $131,000 after buying an additional 9,300 shares during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in ZIX in the 2nd quarter valued at $140,000. Hedge funds and other institutional investors own 69.66% of the company’s stock.
A number of research firms recently weighed in on ZIXI. BidaskClub lowered shares of ZIX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of ZIX from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Craig Hallum upgraded shares of ZIX from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, October 24th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. ZIX currently has a consensus rating of “Buy” and a consensus price target of $6.08.
In other ZIX news, Director Robert C. Hausmann sold 52,927 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $5.66, for a total transaction of $299,566.82. Following the sale, the director now directly owns 71,285 shares in the company, valued at approximately $403,473.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.
Shares of NASDAQ ZIXI opened at $6.32 on Tuesday. The firm has a market cap of $354.24 million, a price-to-earnings ratio of 79.00, a P/E/G ratio of 1.61 and a beta of 0.67. Zix Co. has a one year low of $3.82 and a one year high of $7.09.
ZIX (NASDAQ:ZIXI) last issued its earnings results on Tuesday, October 23rd. The software maker reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $17.90 million for the quarter, compared to analyst estimates of $17.73 million. ZIX had a negative net margin of 9.72% and a positive return on equity of 12.65%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. As a group, sell-side analysts predict that Zix Co. will post 0.27 earnings per share for the current fiscal year.
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Zix Corporation provides email encryption, threat protection, archiving, bring-your-own-device security, and data loss prevention solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers Zix Email Encryption that allows an enterprise to use policy-driven rules to determine email messages that should be sent securely to comply with regulations or company-defined policies.
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