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 158,159 shares. The stock has a market cap of $288.13 million, a P/E ratio of 49.18 and a beta of 1.37. The firm’s 50 day moving average is $5.74 and its 200-day moving average is $5.36. Zix Corporation has a one year low of $3.65 and a one year high of $6.67.
Zix Corporation (NASDAQ:ZIXI) posted its earnings results on Tuesday. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.01, Morningstar.com reports. The business had revenue of $16.38 million during the quarter, compared to the consensus estimate 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 for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous 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.
In other news, Director Richard Spurr sold 151,045 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $5.53, for a total transaction of $835,278.85. Following the transaction, the director now directly owns 183,048 shares of the company’s stock, valued at $1,012,255.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Dave Robertson sold 93,750 shares of the firm’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 transaction of $518,437.50. Following the transaction, the vice president now directly owns 258,282 shares in the company, valued at $1,428,299.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 366,456 shares of company stock worth $2,039,580. Corporate insiders own 4.50% of the company’s stock.
Several institutional investors have recently modified their holdings of ZIXI. Wells Fargo & Company MN raised its position in shares of Zix Corporation by 6.6% in the first quarter. Wells Fargo & Company MN now owns 82,971 shares of the software maker’s stock worth $399,000 after buying an additional 5,117 shares during the period. JPMorgan Chase & Co. raised its position in shares of 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 during the period. Menta Capital LLC raised its position in shares of Zix Corporation by 14.1% in the first quarter. Menta Capital LLC now owns 331,982 shares of the software maker’s stock worth $1,597,000 after buying an additional 41,119 shares during the period. Globeflex Capital L P raised its position in shares of Zix Corporation by 17.2% in the first quarter. Globeflex Capital L P now owns 306,051 shares of the software maker’s stock worth $1,472,000 after buying an additional 44,951 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Zix Corporation by 1,385.2% in the first quarter. Alliancebernstein L.P. now owns 357,736 shares of the software maker’s stock worth $1,721,000 after buying an additional 333,650 shares during the period. 64.89% of the stock is currently owned by institutional investors and hedge funds.
Zix Corporation announced that its board has authorized a stock buyback plan on Tuesday, April 25th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the software maker to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Several analysts recently issued reports on the company. Imperial Capital raised their target price on Zix Corporation from $6.00 to $6.50 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Dougherty & Co reissued a “buy” rating and issued a $7.00 target price (up from $5.50) on shares of Zix Corporation in a research note on Saturday, July 22nd. Finally, BidaskClub cut Zix Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $6.08.
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.