Zix Co. (NASDAQ:ZIXI) Expected to Announce Quarterly Sales of $52.52 Million

Equities research analysts expect that Zix Co. (NASDAQ:ZIXI) will report $52.52 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ZIX’s earnings, with the highest sales estimate coming in at $52.67 million and the lowest estimate coming in at $52.40 million. ZIX posted sales of $45.92 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The business is expected to issue its next quarterly earnings results on Thursday, August 6th.

On average, analysts expect that ZIX will report full-year sales of $212.21 million for the current fiscal year, with estimates ranging from $208.20 million to $214.43 million. For the next year, analysts anticipate that the firm will post sales of $227.78 million, with estimates ranging from $210.20 million to $236.64 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for ZIX.

ZIX (NASDAQ:ZIXI) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.04). The business had revenue of $52.43 million during the quarter, compared to analysts’ expectations of $51.80 million. ZIX had a positive return on equity of 60.09% and a negative net margin of 4.70%.

A number of equities research analysts have recently issued reports on the stock. Cowen cut their target price on shares of ZIX from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Craig Hallum initiated coverage on shares of ZIX in a research note on Friday, March 27th. They set a “buy” rating and a $9.00 price objective on the stock. Zacks Investment Research lowered shares of ZIX from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Northland Securities increased their price objective on shares of ZIX from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, ValuEngine lowered shares of ZIX from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. ZIX has a consensus rating of “Hold” and an average price target of $9.65.

Shares of ZIX stock traded up $0.46 during trading on Monday, reaching $6.66. The company had a trading volume of 1,017,687 shares, compared to its average volume of 965,360. The company has a market cap of $365.90 million, a price-to-earnings ratio of -18.50, a price-to-earnings-growth ratio of 1.08 and a beta of 1.34. The firm’s fifty day moving average is $6.54 and its 200-day moving average is $6.43. The company has a debt-to-equity ratio of 5.14, a quick ratio of 0.46 and a current ratio of 0.46. ZIX has a fifty-two week low of $2.84 and a fifty-two week high of $10.51.

In other news, Director Richard Spurr sold 4,572 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.18, for a total transaction of $28,254.96. Following the completion of the sale, the director now owns 19,999 shares of the company’s stock, valued at approximately $123,593.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 44,512 shares of company stock valued at $272,077. Insiders own 36.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in ZIXI. First Trust Advisors LP raised its holdings in ZIX by 10.1% in the 1st quarter. First Trust Advisors LP now owns 219,927 shares of the software maker’s stock worth $1,513,000 after purchasing an additional 20,149 shares during the period. Victory Capital Management Inc. raised its holdings in ZIX by 18.9% in the 4th quarter. Victory Capital Management Inc. now owns 460,338 shares of the software maker’s stock worth $3,107,000 after purchasing an additional 73,198 shares during the period. Principal Financial Group Inc. raised its holdings in ZIX by 108.3% in the 4th quarter. Principal Financial Group Inc. now owns 51,617 shares of the software maker’s stock worth $350,000 after purchasing an additional 26,841 shares during the period. State Street Corp raised its holdings in ZIX by 4.4% in the 4th quarter. State Street Corp now owns 1,250,786 shares of the software maker’s stock worth $8,480,000 after purchasing an additional 53,006 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in ZIX by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 131,804 shares of the software maker’s stock worth $894,000 after purchasing an additional 3,548 shares during the period. 67.58% of the stock is owned by institutional investors.

About ZIX

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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