Shares of Zix Co. (NASDAQ:ZIXI) shot up 5.2% during mid-day trading on Wednesday . The company traded as high as $7.67 and last traded at $7.66, 608,067 shares changed hands during trading. A decline of 20% from the average session volume of 764,245 shares. The stock had previously closed at $7.28.

ZIXI has been the topic of several research analyst reports. ValuEngine downgraded ZIX from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub cut ZIX from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. TheStreet downgraded ZIX from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Zacks Investment Research upgraded ZIX from a “hold” rating to a “strong-buy” rating and set a $9.50 target price for the company in a research note on Saturday, August 10th. Finally, Cowen assumed coverage on ZIX in a report on Thursday, May 23rd. They issued an “outperform” rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned 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 target price of $11.13.

The stock’s 50-day moving average is $7.98 and its 200-day moving average is $8.37. The firm has a market cap of $414.21 million, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.01.

ZIX (NASDAQ:ZIXI) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $45.92 million during the quarter, compared to the consensus estimate of $44.53 million. ZIX had a net margin of 1.55% and a return on equity of 31.03%. ZIX’s revenue for the quarter was up 162.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, analysts expect that Zix Co. will post 0.33 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC grew its position in ZIX by 71.1% during the first quarter. Quantamental Technologies LLC now owns 5,817 shares of the software maker’s stock worth $40,000 after buying an additional 2,417 shares in the last quarter. NEXT Financial Group Inc bought a new stake in shares of ZIX in the 2nd quarter worth approximately $42,000. Manchester Capital Management LLC bought a new stake in shares of ZIX in the 2nd quarter worth approximately $44,000. Hillsdale Investment Management Inc. lifted its position in shares of ZIX by 5.9% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 90,300 shares of the software maker’s stock worth $821,000 after acquiring an additional 5,000 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of ZIX by 0.8% during the 2nd quarter. Northern Trust Corp now owns 651,643 shares of the software maker’s stock worth $5,923,000 after purchasing an additional 5,339 shares in the last quarter. 72.63% of the stock is owned by institutional investors and hedge funds.

About ZIX (NASDAQ:ZIXI)

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.

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