Teacher Retirement System of Texas Boosts Stock Holdings in Ziff Davis, Inc. (NASDAQ:ZD)

Teacher Retirement System of Texas boosted its position in Ziff Davis, Inc. (NASDAQ:ZD) by 15.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,007 shares of the technology company’s stock after purchasing an additional 4,506 shares during the period. Teacher Retirement System of Texas’ holdings in Ziff Davis were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Tocqueville Asset Management L.P. increased its stake in shares of Ziff Davis by 4.1% in the fourth quarter. Tocqueville Asset Management L.P. now owns 93,700 shares of the technology company’s stock worth $5,092,000 after purchasing an additional 3,700 shares in the last quarter. Cibc World Markets Corp purchased a new position in Ziff Davis in the 4th quarter valued at approximately $224,000. Ruffer LLP bought a new stake in Ziff Davis during the 4th quarter valued at $7,946,000. Amundi lifted its position in shares of Ziff Davis by 205.6% during the fourth quarter. Amundi now owns 72,737 shares of the technology company’s stock worth $3,809,000 after acquiring an additional 48,937 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Ziff Davis in the fourth quarter worth $5,780,000. 99.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Ziff Davis from $70.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Citigroup lowered their price target on shares of Ziff Davis from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group reduced their price objective on shares of Ziff Davis from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.67.

Insider Transactions at Ziff Davis

In other news, Director Sarah Ann Fay acquired 1,282 shares of Ziff Davis stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the transaction, the director now owns 18,655 shares of the company’s stock, valued at $727,545. This trade represents a 7.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Bret Richter acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $39.21 per share, for a total transaction of $98,025.00. Following the completion of the acquisition, the chief financial officer now owns 16,339 shares in the company, valued at $640,652.19. This represents a 18.06 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 5,028 shares of company stock valued at $198,024. 2.33% of the stock is owned by corporate insiders.

Ziff Davis Price Performance

Shares of NASDAQ ZD opened at $41.09 on Friday. The stock’s 50-day simple moving average is $47.54 and its two-hundred day simple moving average is $50.55. Ziff Davis, Inc. has a twelve month low of $37.62 and a twelve month high of $63.87. The firm has a market capitalization of $1.76 billion, a P/E ratio of 34.82 and a beta of 1.42. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.49.

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.