Zix Corporation (NASDAQ:ZIXI) Downgraded by BidaskClub
BidaskClub cut shares of Zix Corporation (NASDAQ:ZIXI) from a buy rating to a hold rating in a report published on Thursday morning.
Other research analysts also recently issued research reports about the company. Dougherty & Co restated a buy rating and issued a $7.00 price objective (up previously from $5.50) on shares of Zix Corporation in a research note on Saturday, July 22nd. Imperial Capital downgraded Zix Corporation from an outperform rating to an in-line rating and set a $6.50 price objective for the company. in a research note on Tuesday, June 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Zix Corporation presently has a consensus rating of Hold and an average price target of $6.08.
Shares of Zix Corporation (ZIXI) opened at 5.45 on Thursday. The firm has a market cap of $290.26 million, a P/E ratio of 49.55 and a beta of 1.38. Zix Corporation has a one year low of $3.65 and a one year high of $6.67. The firm’s 50-day moving average price is $5.79 and its 200 day moving average price is $5.35.
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Zix Corporation declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 25th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the software maker to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Richard Spurr sold 116,010 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $5.57, for a total transaction of $646,175.70. Following the completion of the transaction, the director now owns 208,048 shares in the company, valued at approximately $1,158,827.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dave Robertson sold 93,750 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $5.53, for a total value of $518,437.50. Following the transaction, the vice president now owns 258,282 shares of the company’s stock, valued at approximately $1,428,299.46. The disclosure for this sale can be found here. Insiders sold a total of 492,466 shares of company stock valued at $2,741,256 in the last 90 days. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC increased its position in Zix Corporation by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 150,579 shares of the software maker’s stock valued at $744,000 after buying an additional 13,454 shares during the last quarter. Thomson Horstmann & Bryant Inc. increased its position in Zix Corporation by 10.0% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 1,352,797 shares of the software maker’s stock valued at $6,506,000 after buying an additional 122,980 shares during the last quarter. Acadian Asset Management LLC increased its position in Zix Corporation by 95.6% in the first quarter. Acadian Asset Management LLC now owns 362,522 shares of the software maker’s stock valued at $1,745,000 after buying an additional 177,164 shares during the last quarter. Wells Fargo & Company MN increased its position in Zix Corporation by 6.6% in the first quarter. Wells Fargo & Company MN now owns 82,971 shares of the software maker’s stock valued at $399,000 after buying an additional 5,117 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in Zix Corporation during the first quarter valued at $112,000. Institutional investors own 64.89% of the company’s stock.
About Zix Corporation
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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