Victory Capital Management Inc. Sells 17,011 Shares of Ziff Davis, Inc. (NASDAQ:ZD)

Victory Capital Management Inc. reduced its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 34.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,750 shares of the technology company’s stock after selling 17,011 shares during the period. Victory Capital Management Inc. owned 0.07% of Ziff Davis worth $1,748,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Rothschild Investment LLC acquired a new stake in Ziff Davis during the 2nd quarter worth $25,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Ziff Davis in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC raised its position in shares of Ziff Davis by 362.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock worth $34,000 after purchasing an additional 402 shares during the period. Quest Partners LLC bought a new position in shares of Ziff Davis during the 4th quarter valued at about $73,000. Finally, Innealta Capital LLC acquired a new position in shares of Ziff Davis in the 2nd quarter valued at approximately $75,000. 99.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on ZD. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of Ziff Davis in a report on Friday, September 6th. Citigroup lowered their price objective 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. Finally, Barclays reduced 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 note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.50.

Ziff Davis Stock Performance

Shares of ZD opened at $52.82 on Thursday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 42.43 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 firm has a fifty day simple moving average of $46.58 and a 200 day simple moving average of $53.30. 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 posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). The business had revenue of $320.80 million for the quarter, compared to analyst estimates of $332.44 million. Ziff Davis had a return on equity of 13.81% and a net margin of 5.86%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. Research analysts forecast that Ziff Davis, Inc. will post 6.1 EPS for the current fiscal year.

About Ziff Davis

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.