ClariVest Asset Management LLC Invests $1.51 Million in Ziff Davis, Inc. (NASDAQ:ZD)

ClariVest Asset Management LLC bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,441 shares of the technology company’s stock, valued at approximately $1,511,000. ClariVest Asset Management LLC owned approximately 0.06% of Ziff Davis at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZD. Quadrature Capital Ltd purchased a new stake in shares of Ziff Davis during the fourth quarter valued at $1,257,000. Retirement Systems of Alabama grew its stake in Ziff Davis by 63.6% during the 1st quarter. Retirement Systems of Alabama now owns 296,572 shares of the technology company’s stock valued at $18,696,000 after purchasing an additional 115,258 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Ziff Davis by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock valued at $113,771,000 after purchasing an additional 136,220 shares during the period. QRG Capital Management Inc. raised its stake in shares of Ziff Davis by 4.6% in the first quarter. QRG Capital Management Inc. now owns 17,623 shares of the technology company’s stock worth $1,111,000 after purchasing an additional 777 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Ziff Davis by 8.2% during the second quarter. Assenagon Asset Management S.A. now owns 113,196 shares of the technology company’s stock worth $6,231,000 after purchasing an additional 8,625 shares during the period. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZD has been the subject of a number of recent research reports. Citigroup reduced their price target on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Barclays decreased their target price on shares of Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Ziff Davis in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

Ziff Davis Stock Performance

Shares of ZD stock opened at $47.36 on Thursday. The company has a market capitalization of $2.18 billion, a P/E ratio of 39.14 and a beta of 1.29. Ziff Davis, Inc. has a 12-month low of $37.76 and a 12-month high of $70.90. The business’s 50 day moving average is $46.86 and its two-hundred day moving average is $53.94. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.54.

Ziff Davis (NASDAQ:ZD) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.08). The company had revenue of $320.80 million during the quarter, compared to analysts’ expectations of $332.44 million. Ziff Davis had a return on equity of 13.81% and a net margin of 5.86%. Ziff Davis’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. Analysts expect that Ziff Davis, Inc. will post 6.1 EPS for the current fiscal year.

Ziff Davis Profile

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.