Central Pacific Bank Trust Division Buys Shares of 2,670 Ziff Davis, Inc. (NASDAQ:ZD)

Central Pacific Bank Trust Division bought a new stake in shares of Ziff Davis, Inc. (NASDAQ:ZD) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,670 shares of the technology company’s stock, valued at approximately $167,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. FORA Capital LLC increased its stake in Ziff Davis by 21.0% during the first quarter. FORA Capital LLC now owns 7,289 shares of the technology company’s stock valued at $459,000 after purchasing an additional 1,267 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Ziff Davis by 63.6% during the first quarter. Retirement Systems of Alabama now owns 296,572 shares of the technology company’s stock valued at $18,696,000 after acquiring an additional 115,258 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Ziff Davis by 126.5% during the first quarter. Assenagon Asset Management S.A. now owns 104,571 shares of the technology company’s stock valued at $6,592,000 after acquiring an additional 58,400 shares during the period. Bfsg LLC acquired a new position in shares of Ziff Davis during the first quarter valued at $49,000. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Ziff Davis by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 13,200 shares of the technology company’s stock valued at $832,000 after acquiring an additional 300 shares during the period. Institutional investors own 99.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Ziff Davis from $74.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. raised shares of Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 price objective for the company in a report on Thursday, May 2nd. Wedbush reduced their price objective on shares of Ziff Davis from $78.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Barclays reduced their price objective on shares of Ziff Davis from $68.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.13.

Ziff Davis Price Performance

Ziff Davis stock traded down $4.14 during midday trading on Wednesday, hitting $47.72. The company’s stock had a trading volume of 205,592 shares, compared to its average volume of 326,501. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $55.08 and its 200-day moving average price is $60.58. Ziff Davis, Inc. has a 12 month low of $45.46 and a 12 month high of $75.58. The company has a market capitalization of $2.20 billion, a PE ratio of 39.04 and a beta of 1.29.

Ziff Davis (NASDAQ:ZD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05. The firm had revenue of $314.49 million for the quarter, compared to the consensus estimate of $317.71 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. Analysts anticipate that Ziff Davis, Inc. will post 6.09 earnings per share for the current fiscal year.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.