ClariVest Asset Management LLC trimmed its position in Zix Co. (NASDAQ:ZIXI) by 4.9% in the 1st quarter, HoldingsChannel reports. The fund owned 626,855 shares of the software maker’s stock after selling 32,049 shares during the quarter. ClariVest Asset Management LLC’s holdings in ZIX were worth $4,313,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quantamental Technologies LLC boosted its stake in ZIX by 71.1% in the 1st quarter. Quantamental Technologies LLC now owns 5,817 shares of the software maker’s stock worth $40,000 after purchasing an additional 2,417 shares during the period. Macquarie Group Ltd. boosted its stake in ZIX by 1,108.8% in the 4th quarter. Macquarie Group Ltd. now owns 9,670 shares of the software maker’s stock worth $55,000 after purchasing an additional 8,870 shares during the period. BNP Paribas Arbitrage SA boosted its stake in ZIX by 63,870.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,875 shares of the software maker’s stock worth $75,000 after purchasing an additional 10,858 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in ZIX by 343.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 18,543 shares of the software maker’s stock worth $106,000 after purchasing an additional 14,362 shares during the period. Finally, Bank of Montreal Can boosted its stake in ZIX by 2,185.1% in the 1st quarter. Bank of Montreal Can now owns 16,453 shares of the software maker’s stock worth $113,000 after purchasing an additional 15,733 shares during the period. 72.27% of the stock is owned by institutional investors.
NASDAQ ZIXI opened at $8.57 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 3.37. The company has a market cap of $478.26 million, a PE ratio of 26.78, a PEG ratio of 2.01 and a beta of 0.94. Zix Co. has a one year low of $4.66 and a one year high of $11.15.
ZIX (NASDAQ:ZIXI) last posted its earnings results on Thursday, May 2nd. The software maker reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $29.30 million for the quarter, compared to the consensus estimate of $27.19 million. ZIX had a net margin of 8.75% and a return on equity of 20.21%. The firm’s revenue was up 75.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, sell-side analysts expect that Zix Co. will post 0.29 EPS for the current year.
Several research firms have weighed in on ZIXI. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Zacks Investment Research upgraded ZIX from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Saturday, May 11th. Craig Hallum set a $14.00 target price on ZIX and gave the company a “buy” rating in a research report on Friday, May 3rd. Northland Securities reiterated a “buy” rating and set a $10.00 target price on shares of ZIX in a research report on Friday, May 3rd. Finally, Cowen assumed coverage on ZIX in a research report on Thursday, May 23rd. They set an “outperform” rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.75.
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Zix Corporation provides email encryption, data loss prevention (DLP), threat protection, archiving, and bring-your-own-device mobile security solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers ZixEncrypt that bundles email encryption and DLP capabilities to enable the secure exchange of email; ZixProtect, a cloud-based service that defends organizations from zero-day malware, ransomware, phishing, CEO fraud, W-2 phishing attacks, spam, and viruses in email; and ZixArchive, a cloud-based email retention solution that enables user retrieval, compliance, and e-discovery.
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