Algert Global LLC reduced its holdings in shares of Zix Co. (NASDAQ:ZIXI) by 27.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,936 shares of the software maker’s stock after selling 30,208 shares during the period. Algert Global LLC owned about 0.14% of ZIX worth $447,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in ZIXI. Matarin Capital Management LLC purchased a new stake in ZIX during the 3rd quarter worth approximately $1,859,000. Wedge Capital Management L L P NC purchased a new stake in ZIX during the 3rd quarter worth approximately $1,543,000. Cadence Capital Management LLC increased its stake in ZIX by 44.5% during the 3rd quarter. Cadence Capital Management LLC now owns 669,832 shares of the software maker’s stock worth $3,718,000 after buying an additional 206,249 shares during the period. Martingale Asset Management L P purchased a new stake in ZIX during the 3rd quarter worth approximately $1,067,000. Finally, First Trust Advisors LP purchased a new stake in ZIX during the 3rd quarter worth approximately $1,065,000. 71.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ZIXI opened at $8.29 on Friday. Zix Co. has a 52 week low of $3.82 and a 52 week high of $8.31. The company has a market capitalization of $416.24 million, a price-to-earnings ratio of 103.63, a PEG ratio of 1.37 and a beta of 0.99.
ZIXI has been the topic of several recent research reports. BidaskClub raised shares of ZIX from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Craig Hallum raised shares of ZIX from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, October 24th. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 26th. TheStreet raised shares of ZIX from a “c+” rating to a “b-” rating in a research report on Friday, November 2nd. Finally, Northland Securities initiated coverage on shares of ZIX in a research report on Friday, November 16th. They issued an “outperform” rating and a $9.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $7.00.
Zix Corporation provides email encryption, threat protection, archiving, bring-your-own-device security, and data loss prevention solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers Zix Email Encryption that allows an enterprise to use policy-driven rules to determine email messages that should be sent securely to comply with regulations or company-defined policies.
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