Goldman Sachs Group Inc. Reduces Position in Zix Corporation (ZIXI)
Goldman Sachs Group Inc. lowered its position in shares of Zix Corporation (NASDAQ:ZIXI) by 18.0% during the first quarter, Holdings Channel reports. The fund owned 259,932 shares of the software maker’s stock after selling 56,929 shares during the period. Goldman Sachs Group Inc.’s holdings in Zix Corporation were worth $1,251,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Zix Corporation during the first quarter worth about $126,000. JPMorgan Chase & Co. increased its stake in shares of Zix Corporation by 54.2% in the first quarter. JPMorgan Chase & Co. now owns 618,136 shares of the software maker’s stock worth $2,973,000 after buying an additional 217,199 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in shares of Zix Corporation during the first quarter worth $221,000. Oxford Asset Management increased its stake in shares of Zix Corporation by 18.3% in the first quarter. Oxford Asset Management now owns 443,473 shares of the software maker’s stock worth $2,133,000 after buying an additional 68,702 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in shares of Zix Corporation by 24.8% in the first quarter. Engineers Gate Manager LP now owns 27,795 shares of the software maker’s stock worth $134,000 after buying an additional 5,528 shares in the last quarter. Institutional investors own 64.24% of the company’s stock.
Zix Corporation (NASDAQ:ZIXI) traded down 2.33% during mid-day trading on Thursday, reaching $5.03. The company had a trading volume of 73,309 shares. Zix Corporation has a one year low of $3.65 and a one year high of $6.67. The firm’s 50-day moving average is $5.63 and its 200-day moving average is $5.37. The firm has a market capitalization of $272.17 million, a P/E ratio of 41.92 and a beta of 1.36.
Zix Corporation (NASDAQ:ZIXI) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Zix Corporation had a net margin of 10.48% and a return on equity of 16.24%. The business had revenue of $16.38 million during the quarter, compared to analyst estimates of $16.34 million. During the same period last year, the firm posted $0.06 earnings per share. Zix Corporation’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Zix Corporation will post $0.28 earnings per share for the current fiscal year.
Zix Corporation declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 25th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
ZIXI has been the topic of a number of analyst reports. BidaskClub downgraded shares of Zix Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Imperial Capital downgraded shares of Zix Corporation from an “outperform” rating to an “in-line” rating and set a $6.50 price target on the stock. in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Zix Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Dougherty & Co reiterated a “buy” rating and issued a $7.00 price target (up from $5.50) on shares of Zix Corporation in a research report on Saturday, July 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.08.
In other Zix Corporation news, Director Richard Spurr sold 28,995 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $5.79, for a total value of $167,881.05. Following the transaction, the director now directly owns 42,348 shares of the company’s stock, valued at $245,194.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 35,101 shares of company stock worth $204,212. Insiders own 4.50% of the company’s stock.
About Zix Corporation
Zix Corporation 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 through e-mail encryption and security solutions. Its Zix Email Encryption enables the secure exchange of e-mails that include sensitive information through a secure messaging service.
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