Cowen Begins Coverage on ZIX (ZIXI)

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Equities researchers at Cowen initiated coverage on shares of ZIX (NASDAQ:ZIXI) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $11.00 price target on the software maker’s stock. Cowen’s price target suggests a potential upside of 18.66% from the company’s previous close.

Several other analysts also recently weighed in on the company. BidaskClub downgraded ZIX from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded ZIX from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Saturday, May 11th. Craig Hallum set a $14.00 price objective on ZIX and gave the stock a “buy” rating in a research report on Friday, May 3rd. ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, Northland Securities reiterated a “buy” rating and issued a $10.00 target price on shares of ZIX in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.75.

Shares of ZIXI stock opened at $9.27 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 3.37. ZIX has a twelve month low of $4.66 and a twelve month high of $11.15. The firm has a market cap of $515.48 million, a P/E ratio of 54.59, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11.

ZIX (NASDAQ:ZIXI) last announced its quarterly earnings data on Thursday, February 28th. The software maker reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. ZIX had a return on equity of 20.21% and a net margin of 8.75%. The business had revenue of $18.45 million during the quarter, compared to the consensus estimate of $18.31 million. On average, research analysts expect that ZIX will post 0.29 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ZIXI. Assenagon Asset Management S.A. raised its position in ZIX by 586.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,216,389 shares of the software maker’s stock valued at $8,369,000 after purchasing an additional 1,039,110 shares during the last quarter. ClariVest Asset Management LLC raised its position in ZIX by 296.4% in the fourth quarter. ClariVest Asset Management LLC now owns 658,904 shares of the software maker’s stock valued at $3,776,000 after purchasing an additional 492,683 shares during the last quarter. Millennium Management LLC raised its position in ZIX by 144.6% in the fourth quarter. Millennium Management LLC now owns 489,609 shares of the software maker’s stock valued at $2,805,000 after purchasing an additional 289,437 shares during the last quarter. Acadian Asset Management LLC raised its position in ZIX by 146.3% in the first quarter. Acadian Asset Management LLC now owns 482,264 shares of the software maker’s stock valued at $3,318,000 after purchasing an additional 286,486 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in ZIX by 6.5% in the first quarter. Renaissance Technologies LLC now owns 4,189,805 shares of the software maker’s stock valued at $28,826,000 after purchasing an additional 253,905 shares during the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

ZIX Company Profile

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.

See Also: Certificate of Deposit (CD)

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