Connor Clark & Lunn Investment Management Ltd. Purchases 109,570 Shares of Zuora, Inc. (NYSE:ZUO)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Zuora, Inc. (NYSE:ZUO) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 502,634 shares of the company’s stock after purchasing an additional 109,570 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Zuora were worth $4,333,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ZUO. Vanguard Group Inc. grew its stake in shares of Zuora by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock worth $157,434,000 after buying an additional 917,565 shares in the last quarter. Scalar Gauge Management LLC lifted its holdings in shares of Zuora by 35.4% in the 2nd quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after acquiring an additional 1,332,343 shares during the last quarter. Solel Partners LP grew its position in Zuora by 13.5% in the second quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock worth $40,299,000 after acquiring an additional 483,445 shares in the last quarter. Bares Capital Management Inc. increased its stake in Zuora by 41.4% during the first quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock worth $15,926,000 after acquiring an additional 511,292 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Zuora by 27.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 985,632 shares of the company’s stock worth $9,787,000 after acquiring an additional 212,200 shares during the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Zuora Price Performance

ZUO opened at $9.94 on Friday. The business has a fifty day moving average of $9.37 and a 200 day moving average of $9.33. The stock has a market cap of $1.51 billion, a P/E ratio of -31.06 and a beta of 1.70. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.90. Zuora, Inc. has a 52-week low of $7.70 and a 52-week high of $10.85.

Zuora (NYSE:ZUO) last issued its 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 firm had revenue of $115.40 million during the quarter, compared to analyst estimates of $112.63 million. Zuora had a negative net margin of 10.60% and a negative return on equity of 12.54%. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) earnings per share.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ZUO shares. Needham & Company LLC reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Zuora in a research note on Monday, October 21st. Lake Street Capital restated a “hold” rating and issued a $10.00 price target on shares of Zuora in a research report on Friday, October 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $13.00 price objective on shares of Zuora in a research report on Thursday, August 22nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Zuora currently has an average rating of “Hold” and an average target price of $11.43.

Insider Activity at Zuora

In other Zuora news, insider Peter Hirsch sold 18,855 shares of the firm’s stock in a transaction 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 directly owns 19,279 shares in the company, valued at $174,667.74. This trade represents a 49.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrew M. Cohen sold 20,773 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 172,033 shares of the company’s stock, valued at $1,434,755.22. This represents a 10.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 221,081 shares of company stock worth $1,857,391 in the last 90 days. 8.62% of the stock is owned by corporate insiders.

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.