ARGA Investment Management LP Acquires New Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

ARGA Investment Management LP acquired a new stake in Ziff Davis, Inc. (NASDAQ:ZD) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,450 shares of the technology company’s stock, valued at approximately $217,000.

A number of other institutional investors have also made changes to their positions in ZD. EverSource Wealth Advisors LLC increased its position in Ziff Davis by 362.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock worth $34,000 after buying an additional 402 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of Ziff Davis during the 4th quarter worth approximately $34,000. Headinvest LLC acquired a new stake in shares of Ziff Davis during the 3rd quarter worth approximately $44,000. First Horizon Advisors Inc. grew its holdings in shares of Ziff Davis by 32.2% during the 4th quarter. First Horizon Advisors Inc. now owns 686 shares of the technology company’s stock worth $46,000 after purchasing an additional 167 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Ziff Davis by 31.5% during the 4th quarter. Blue Trust Inc. now owns 851 shares of the technology company’s stock worth $54,000 after purchasing an additional 204 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

Ziff Davis Stock Down 1.5 %

Shares of NASDAQ:ZD traded down $0.83 during mid-day trading on Wednesday, reaching $54.17. 54,313 shares of the stock were exchanged, compared to its average volume of 323,372. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.53. The company has a market cap of $2.50 billion, a P/E ratio of 44.93 and a beta of 1.29. Ziff Davis, Inc. has a one year low of $49.50 and a one year high of $75.58. The stock’s 50 day simple moving average is $54.56 and its 200-day simple moving average is $61.43.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. The business had revenue of $314.49 million during the quarter, compared to the consensus estimate of $317.71 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. As a group, equities research analysts predict that Ziff Davis, Inc. will post 6.09 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ZD shares. Citigroup cut their price objective on Ziff Davis from $74.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Wedbush cut their price target on Ziff Davis from $78.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. JPMorgan Chase & Co. raised Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price target on the stock in a research note on Thursday, May 2nd. UBS Group cut their price target on Ziff Davis from $77.00 to $76.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. Finally, Barclays cut their target price on Ziff Davis from $68.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Ziff Davis presently has a consensus rating of “Moderate Buy” and an average price target of $75.13.

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.