Arizona State Retirement System Boosts Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Arizona State Retirement System increased its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,913 shares of the technology company’s stock after acquiring an additional 275 shares during the quarter. Arizona State Retirement System’s holdings in Ziff Davis were worth $711,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ziff Davis by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 575,688 shares of the technology company’s stock worth $38,680,000 after purchasing an additional 21,501 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ziff Davis by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,693,227 shares of the technology company’s stock worth $113,771,000 after buying an additional 136,220 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Ziff Davis by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 185,788 shares of the technology company’s stock worth $12,483,000 after buying an additional 1,118 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Ziff Davis in the 4th quarter valued at $473,000. Finally, Brown Advisory Inc. acquired a new stake in shares of Ziff Davis in the 4th quarter worth $522,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Wall Street Analyst Weigh In

ZD has been the topic of several recent research reports. Citigroup lowered their price target on shares of Ziff Davis from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Barclays dropped their price target on shares of Ziff Davis from $58.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Ziff Davis in a research 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Ziff Davis Price Performance

Ziff Davis stock opened at $49.23 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 40.69 and a beta of 1.29. The company’s 50 day simple moving average is $46.66 and its 200-day simple moving average is $53.55. Ziff Davis, Inc. has a 1 year low of $37.76 and a 1 year high of $70.90.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Ziff Davis had a return on equity of 13.81% and a net margin of 5.86%. The firm had revenue of $320.80 million for the quarter, compared to analyst estimates of $332.44 million. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that Ziff Davis, Inc. will post 6.1 earnings per share for the current year.

Ziff Davis Company 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.