Zacks Investment Research upgraded shares of ZIX (NASDAQ:ZIXI) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday, Zacks.com reports. The firm currently has $9.50 price target on the software maker’s stock.
According to Zacks, “Zix Corporation is the leading provider of hosted email encryption and e-prescribing services. ZixCorp’s hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript e-prescribing service reduces costs and improves patient care by automating the prescription process between payors, doctors, and pharmacies. “
A number of other equities analysts also recently weighed in on the company. ValuEngine downgraded ZIX from a buy rating to a hold rating in a report on Thursday, August 8th. Craig Hallum set a $14.00 target price on ZIX and gave the company a buy rating in a report on Friday, May 3rd. Northland Securities reiterated a buy rating and issued a $10.00 target price on shares of ZIX in a report on Friday, May 3rd. Cowen began coverage on ZIX in a research note on Thursday, May 23rd. They issued an outperform rating and a $11.00 price target for the company. Finally, BidaskClub cut ZIX from a buy rating to a hold rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $11.13.
ZIX (NASDAQ:ZIXI) last issued its earnings results on Thursday, August 1st. The software maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $45.92 million during the quarter, compared to analyst estimates of $44.53 million. ZIX had a net margin of 1.55% and a return on equity of 29.90%. ZIX’s revenue for the quarter was up 162.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities analysts predict that ZIX will post 0.33 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ZIXI. BlackRock Inc. increased its position in shares of ZIX by 0.9% in the 4th quarter. BlackRock Inc. now owns 4,130,398 shares of the software maker’s stock valued at $23,668,000 after purchasing an additional 38,648 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ZIX by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,417,344 shares of the software maker’s stock valued at $13,851,000 after purchasing an additional 26,737 shares during the last quarter. Geode Capital Management LLC increased its position in shares of ZIX by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 651,440 shares of the software maker’s stock valued at $3,731,000 after purchasing an additional 38,635 shares during the last quarter. Bank of America Corp DE increased its position in shares of ZIX by 79.0% in the 4th quarter. Bank of America Corp DE now owns 42,007 shares of the software maker’s stock valued at $240,000 after purchasing an additional 18,534 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of ZIX by 343.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 18,543 shares of the software maker’s stock valued at $106,000 after purchasing an additional 14,362 shares during the last quarter. 72.76% of the stock is owned by institutional investors and hedge funds.
ZIX Company Profile
Zix Corporation provides email encryption, data loss prevention (DLP), threat protection, archiving, and bring-your-own-device mobile security solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers ZixEncrypt that bundles email encryption and DLP capabilities to enable the secure exchange of email; ZixProtect, a cloud-based service that defends organizations from zero-day malware, ransomware, phishing, CEO fraud, W-2 phishing attacks, spam, and viruses in email; and ZixArchive, a cloud-based email retention solution that enables user retrieval, compliance, and e-discovery.
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