Wedge Capital Management L L P NC Trims Stake in Ziff Davis, Inc. (NASDAQ:ZD)

Wedge Capital Management L L P NC trimmed its stake in Ziff Davis, Inc. (NASDAQ:ZD) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,358 shares of the technology company’s stock after selling 682 shares during the period. Wedge Capital Management L L P NC’s holdings in Ziff Davis were worth $1,032,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hunter Perkins Capital Management LLC purchased a new stake in Ziff Davis in the 3rd quarter worth $256,000. Allspring Global Investments Holdings LLC increased its stake in Ziff Davis by 4.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 681,835 shares of the technology company’s stock worth $43,426,000 after buying an additional 26,219 shares in the last quarter. Fifth Third Bancorp increased its stake in Ziff Davis by 337.5% in the 3rd quarter. Fifth Third Bancorp now owns 490 shares of the technology company’s stock worth $31,000 after buying an additional 378 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Ziff Davis by 18.8% during the third quarter. Panagora Asset Management Inc. now owns 9,430 shares of the technology company’s stock valued at $601,000 after purchasing an additional 1,491 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in shares of Ziff Davis during the third quarter valued at about $236,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Ziff Davis Stock Down 2.2 %

Shares of NASDAQ ZD opened at $51.08 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.76 and a quick ratio of 2.76. The company has a market cap of $2.36 billion, a P/E ratio of 62.29 and a beta of 1.19. Ziff Davis, Inc. has a 1 year low of $50.13 and a 1 year high of $75.58. The firm has a 50-day simple moving average of $61.86 and a two-hundred day simple moving average of $63.80.

Ziff Davis (NASDAQ:ZD) last announced its quarterly earnings data on Wednesday, February 21st. The technology company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.02. The business had revenue of $389.89 million during the quarter, compared to the consensus estimate of $400.71 million. Ziff Davis had a net margin of 3.04% and a return on equity of 13.97%. Research analysts anticipate that Ziff Davis, Inc. will post 6.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jeremy Rossen sold 4,162 shares of Ziff Davis stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $69.43, for a total transaction of $288,967.66. Following the completion of the sale, the executive vice president now owns 7,261 shares of the company’s stock, valued at $504,131.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ZD shares. Royal Bank of Canada restated an “outperform” rating and set a $95.00 price objective on shares of Ziff Davis in a research report on Friday, February 23rd. Evercore ISI raised their price objective on Ziff Davis from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. UBS Group cut their price objective on Ziff Davis from $77.00 to $76.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Wedbush increased their price target on shares of Ziff Davis from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Barclays increased their price target on shares of Ziff Davis from $66.00 to $68.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.17.

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.