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.

TRADEMARK VIOLATION WARNING: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.watchlistnews.com/zix-corporation-nasdaqzixi-downgraded-by-bidaskclub/1463929.html.

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.

Receive News & Ratings for Zix Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zix Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.