Connors Investor Services Inc. cut its holdings in Zix Co. (NASDAQ:ZIXI) by 0.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 367,043 shares of the software maker’s stock after selling 2,085 shares during the period. Connors Investor Services Inc.’s holdings in ZIX were worth $3,336,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenwood Capital Associates LLC bought a new position in ZIX in the 2nd quarter worth approximately $166,000. Bank of Montreal Can boosted its holdings in ZIX by 2,185.1% in the 1st quarter. Bank of Montreal Can now owns 16,453 shares of the software maker’s stock worth $113,000 after buying an additional 15,733 shares during the period. RK Capital Management LLC bought a new position in ZIX in the 2nd quarter worth approximately $4,787,000. Allianz Asset Management GmbH boosted its holdings in ZIX by 702.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,156,503 shares of the software maker’s stock worth $10,512,000 after buying an additional 1,012,368 shares during the period. Finally, GMT Capital Corp bought a new position in ZIX in the 1st quarter worth approximately $167,000. 72.63% of the stock is owned by institutional investors.
NASDAQ:ZIXI traded up $0.15 during trading hours on Thursday, hitting $7.85. The stock had a trading volume of 28,722 shares, compared to its average volume of 560,084. The company has a 50 day simple moving average of $7.86 and a two-hundred day simple moving average of $8.34. The company has a debt-to-equity ratio of 4.01, a current ratio of 0.33 and a quick ratio of 0.33. Zix Co. has a one year low of $4.66 and a one year high of $11.15. The firm has a market capitalization of $428.12 million, a price-to-earnings ratio of 24.53, a P/E/G ratio of 1.60 and a beta of 0.93.
ZIXI has been the subject of several analyst reports. Zacks Investment Research raised shares of ZIX from a “hold” rating to a “strong-buy” rating and set a $9.50 price objective for the company in a report on Saturday, August 10th. TheStreet downgraded shares of ZIX from a “b-” rating to a “c+” rating in a report on Wednesday, August 14th. ValuEngine downgraded shares of ZIX from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. BidaskClub downgraded shares of ZIX from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Finally, Cowen began coverage on shares of ZIX in a report on Thursday, May 23rd. They issued an “outperform” rating and a $11.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $11.13.
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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