Zix Corp. (NASDAQ:ZIXI) shares dropped 6.5% on Wednesday . The company traded as low as $3.89 and last traded at $4.00, with a volume of 342,402 shares trading hands. The stock had previously closed at $4.28.

ZIXI has been the subject of a number of research reports. Imperial Capital reissued an “outperform” rating and set a $5.50 target price on shares of Zix Corp. in a research report on Monday. Zacks Investment Research downgraded shares of Zix Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th.

The firm has a market capitalization of $216.72 million and a P/E ratio of 40.94. The company has a 50-day moving average of $3.98 and a 200-day moving average of $4.00.

Zix Corp. (NASDAQ:ZIXI) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The business had revenue of $14.90 million for the quarter, compared to the consensus estimate of $14.70 million. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.04 EPS. On average, analysts predict that Zix Corp. will post $0.24 earnings per share for the current year.

In related news, Director Richard Spurr sold 66,724 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $3.77, for a total transaction of $251,549.48. Following the sale, the director now owns 236,524 shares of the company’s stock, valued at $891,695.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

An institutional investor recently raised its position in Zix Corp. stock. Dimensional Fund Advisors LP raised its stake in Zix Corp. (NASDAQ:ZIXI) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,606,779 shares of the company’s stock after buying an additional 73,359 shares during the period. Dimensional Fund Advisors LP owned about 2.89% of Zix Corp. worth $8,162,000 at the end of the most recent reporting period.

Zix Corporation (ZixCorp) offers e-mail encryption, data loss prevention and bring-your-own-device (BYOD) security to meet business data protection and compliance needs. The Company operates in the segment of e-mail encryption and security solutions. The Company’s Zix Email Encryption enables the secure exchange of e-mails that include sensitive information through a secure messaging service.

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