TIAA CREF Investment Management LLC increased its position in shares of Zix Corporation (NASDAQ:ZIXI) by 11.9% during the first quarter, Holdings Channel reports. The institutional investor owned 331,837 shares of the software maker’s stock after buying an additional 35,395 shares during the period. TIAA CREF Investment Management LLC’s holdings in Zix Corporation were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Zix Corporation during the first quarter worth about $126,000. JPMorgan Chase & Co. increased its stake in 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. bought a new stake in Zix Corporation during the first quarter worth about $221,000. Oxford Asset Management increased its stake in 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 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. 64.24% of the stock is currently owned by institutional investors and hedge funds.

Zix Corporation (NASDAQ ZIXI) traded up 1.01% during mid-day trading on Friday, hitting $4.99. The company had a trading volume of 38,201 shares. The firm has a market capitalization of $270.00 million, a PE ratio of 41.58 and a beta of 1.36. The company’s 50 day moving average price is $5.61 and its 200-day moving average price is $5.37. Zix Corporation has a 12-month low of $3.65 and a 12-month high of $6.67.

Zix Corporation (NASDAQ:ZIXI) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.05 earnings per share 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 the consensus estimate of $16.34 million. During the same period in the previous year, the business posted $0.06 EPS. Zix Corporation’s revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Zix Corporation will post $0.28 EPS for the current fiscal year.

Zix Corporation declared that its board has approved a stock buyback 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 reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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A number of research firms recently issued reports on ZIXI. Imperial Capital downgraded Zix Corporation from an “outperform” rating to an “in-line” rating and set a $6.50 target price on the stock. in a research report on Tuesday, June 13th. Dougherty & Co reaffirmed a “buy” rating and issued a $7.00 target price (up previously from $5.50) on shares of Zix Corporation in a research report on Saturday, July 22nd. BidaskClub downgraded Zix Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research downgraded Zix Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.08.

In related news, Director Richard Spurr sold 28,995 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $5.79, for a total value of $167,881.05. Following the transaction, the director now owns 42,348 shares of the company’s stock, valued at approximately $245,194.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 35,101 shares of company stock worth $204,212. 4.50% of the stock is owned by insiders.

Zix Corporation Company Profile

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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Institutional Ownership by Quarter for Zix Corporation (NASDAQ:ZIXI)

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