Shares of Zix Corporation (ZIXI) traded down 0.73% during mid-day trading on Wednesday, reaching $5.41. The company’s stock had a trading volume of 149,442 shares. The company’s 50 day moving average price is $5.74 and its 200-day moving average price is $5.36. Zix Corporation has a 1-year low of $3.65 and a 1-year high of $6.67. The company has a market capitalization of $288.13 million, a price-to-earnings ratio of 49.18 and a beta of 1.37.
Zix Corporation (NASDAQ:ZIXI) posted its earnings results on Tuesday. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by $0.01, Morningstar.com reports. The company had revenue of $16.38 million for the quarter, compared to analyst estimates of $16.34 million. Zix Corporation had a return on equity of 16.42% and a net margin of 9.79%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. Zix Corporation updated its Q3 guidance to $0.07 EPS and its FY17 guidance to $0.28 EPS.
Several analysts recently commented on ZIXI shares. Imperial Capital lowered Zix Corporation from an “outperform” rating to an “in-line” rating and set a $6.50 target price on the stock. in a report on Tuesday, June 13th. Dougherty & Co reaffirmed a “buy” rating and set a $7.00 target price (up from $5.50) on shares of Zix Corporation in a report on Saturday, July 22nd. Finally, BidaskClub lowered Zix Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.08.
In other Zix Corporation news, Director Richard Spurr sold 5,126 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $5.95, for a total transaction of $30,499.70. Following the transaction, the director now owns 26,404 shares in the company, valued at approximately $157,103.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dave Robertson sold 93,750 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $1,428,299.46. The disclosure for this sale can be found here. Insiders have sold a total of 366,456 shares of company stock worth $2,039,580 in the last quarter. 4.50% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its position in Zix Corporation by 1,385.2% in the first quarter. Alliancebernstein L.P. now owns 357,736 shares of the software maker’s stock valued at $1,721,000 after buying an additional 333,650 shares during the last quarter. Renaissance Technologies LLC boosted its position in Zix Corporation by 10.9% in the first quarter. Renaissance Technologies LLC now owns 3,367,890 shares of the software maker’s stock valued at $16,200,000 after buying an additional 331,490 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Zix Corporation by 54.2% in the first quarter. JPMorgan Chase & Co. now owns 618,136 shares of the software maker’s stock valued at $2,973,000 after buying an additional 217,199 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Zix Corporation by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,048,744 shares of the software maker’s stock valued at $9,854,000 after buying an additional 188,317 shares during the last quarter. Finally, Acadian Asset Management LLC boosted 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. Institutional investors own 64.89% of the company’s stock.
Zix Corporation announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 25th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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.