Quest Partners LLC Grows Position in Zuora, Inc. (NYSE:ZUO)

Quest Partners LLC lifted its holdings in shares of Zuora, Inc. (NYSE:ZUO) by 233,489.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,474 shares of the company’s stock after purchasing an additional 128,419 shares during the quarter. Quest Partners LLC owned about 0.08% of Zuora worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ZUO. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Zuora during the 2nd quarter worth $44,000. CWM LLC grew its holdings in shares of Zuora by 25.0% during the 2nd quarter. CWM LLC now owns 7,945 shares of the company’s stock worth $79,000 after purchasing an additional 1,590 shares during the period. Castleview Partners LLC purchased a new position in shares of Zuora during the 3rd quarter worth $79,000. Canada Pension Plan Investment Board purchased a new position in shares of Zuora during the 2nd quarter worth $85,000. Finally, Palumbo Wealth Management LLC grew its holdings in shares of Zuora by 11.7% during the 3rd quarter. Palumbo Wealth Management LLC now owns 11,536 shares of the company’s stock worth $99,000 after purchasing an additional 1,210 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Zuora

In other Zuora news, insider Peter Hirsch sold 18,855 shares of Zuora stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total transaction of $170,826.30. Following the transaction, the insider now owns 19,279 shares of the company’s stock, valued at $174,667.74. The trade was a 49.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew M. Cohen sold 20,773 shares of Zuora stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $173,246.82. Following the transaction, the insider now directly owns 172,033 shares in the company, valued at approximately $1,434,755.22. This trade represents a 10.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,081 shares of company stock valued at $1,857,391. Corporate insiders own 8.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price target on shares of Zuora in a report on Thursday, August 22nd. Needham & Company LLC restated a “hold” rating and set a $15.00 target price on shares of Zuora in a report on Monday, October 21st. Finally, Lake Street Capital restated a “hold” rating and set a $10.00 target price on shares of Zuora in a report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.43.

Zuora Price Performance

ZUO stock opened at $9.90 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77. The firm has a market capitalization of $1.50 billion, a P/E ratio of -30.95 and a beta of 1.70. The business’s 50-day moving average is $9.29 and its two-hundred day moving average is $9.33. Zuora, Inc. has a 1 year low of $7.70 and a 1 year high of $10.85.

Zuora (NYSE:ZUO) last posted its quarterly earnings results on Wednesday, August 21st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $115.40 million for the quarter, compared to analyst estimates of $112.63 million. Zuora had a negative return on equity of 12.54% and a negative net margin of 10.60%. Zuora’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS.

Zuora Profile

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.