ValuEngine Upgrades ZIX (NASDAQ:ZIXI) to “Hold”

ValuEngine upgraded shares of ZIX (NASDAQ:ZIXI) from a sell rating to a hold rating in a research note released on Thursday morning, ValuEngine reports.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised ZIX from a sell rating to a hold rating in a research note on Thursday, January 2nd. Wedbush initiated coverage on ZIX in a research note on Thursday, November 7th. They issued an outperform rating and a $10.00 price target for the company. Cowen set a $9.00 price target on ZIX and gave the stock a buy rating in a research note on Friday, November 1st. Finally, BidaskClub raised ZIX from a sell rating to a hold rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and an average target price of $10.15.

Shares of NASDAQ:ZIXI traded down $0.19 on Thursday, hitting $7.06. The company’s stock had a trading volume of 485,536 shares, compared to its average volume of 575,477. ZIX has a 12 month low of $6.24 and a 12 month high of $11.15. The company has a market capitalization of $404.12 million, a price-to-earnings ratio of -35.30, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. The stock’s 50-day moving average is $7.09 and its two-hundred day moving average is $7.55. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.34 and a current ratio of 0.34.

ZIX (NASDAQ:ZIXI) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.04. ZIX had a positive return on equity of 41.08% and a negative net margin of 1.64%. The company had revenue of $47.80 million during the quarter, compared to analysts’ expectations of $47.17 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 167.0% compared to the same quarter last year. Equities analysts expect that ZIX will post 0.32 earnings per share for the current fiscal year.

In other news, VP Dave Robertson sold 50,828 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $7.41, for a total value of $376,635.48. Following the completion of the sale, the vice president now owns 288,096 shares in the company, valued at $2,134,791.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 20.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of ZIX by 16.7% in the second quarter. BlackRock Inc. now owns 4,417,424 shares of the software maker’s stock valued at $40,154,000 after buying an additional 631,733 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of ZIX in the fourth quarter valued at $6,784,000. KAMES CAPITAL plc lifted its holdings in shares of ZIX by 12.2% in the fourth quarter. KAMES CAPITAL plc now owns 877,617 shares of the software maker’s stock valued at $5,941,000 after buying an additional 95,540 shares during the period. First Trust Advisors LP lifted its holdings in shares of ZIX by 25.9% during the third quarter. First Trust Advisors LP now owns 691,969 shares of the software maker’s stock valued at $5,010,000 after purchasing an additional 142,504 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of ZIX by 0.8% during the second quarter. Northern Trust Corp now owns 651,643 shares of the software maker’s stock valued at $5,923,000 after purchasing an additional 5,339 shares during the last quarter. Institutional investors and hedge funds own 71.80% of the company’s stock.

ZIX Company Profile

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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