Ziff Davis, Inc. (NASDAQ:ZD) Position Decreased by Lazard Asset Management LLC

Lazard Asset Management LLC cut its holdings in shares of Ziff Davis, Inc. (NASDAQ:ZD) by 98.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,446 shares of the technology company’s stock after selling 4,865,532 shares during the period. Lazard Asset Management LLC’s holdings in Ziff Davis were worth $4,819,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. OLD Point Trust & Financial Services N A acquired a new stake in Ziff Davis during the 4th quarter worth about $34,000. EverSource Wealth Advisors LLC raised its holdings in shares of Ziff Davis by 362.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 513 shares of the technology company’s stock valued at $34,000 after acquiring an additional 402 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Ziff Davis by 32.2% in the 4th quarter. First Horizon Advisors Inc. now owns 686 shares of the technology company’s stock valued at $46,000 after acquiring an additional 167 shares in the last quarter. Bfsg LLC acquired a new position in Ziff Davis in the 1st quarter worth approximately $49,000. Finally, Blue Trust Inc. boosted its stake in Ziff Davis by 31.5% in the 4th quarter. Blue Trust Inc. now owns 851 shares of the technology company’s stock worth $54,000 after purchasing an additional 204 shares during the period. 99.76% of the stock is currently owned by institutional investors.

Ziff Davis Stock Down 0.3 %

ZD opened at $48.79 on Monday. The company has a market capitalization of $2.25 billion, a PE ratio of 40.44 and a beta of 1.29. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.95 and a quick ratio of 1.95. Ziff Davis, Inc. has a fifty-two week low of $44.11 and a fifty-two week high of $73.79. The business has a 50-day moving average of $53.55 and a 200-day moving average of $58.95.

Ziff Davis (NASDAQ:ZD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. The firm had revenue of $314.49 million for the quarter, compared to the consensus estimate of $317.71 million. Ziff Davis had a return on equity of 14.26% and a net margin of 4.36%. Equities research analysts forecast that Ziff Davis, Inc. will post 6.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ZD has been the subject of a number of research analyst reports. Citigroup reduced their target price on Ziff Davis from $62.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Barclays reduced their price objective on Ziff Davis from $68.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Wedbush decreased their price objective on Ziff Davis from $78.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. upgraded Ziff Davis from a “neutral” rating to an “overweight” rating and set a $70.00 target price on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Ziff Davis presently has an average rating of “Moderate Buy” and a consensus price target of $73.88.

About Ziff Davis

Ziff Davis, Inc, together with its subsidiaries, operates as a digital media and internet company in the United States and internationally. The company offers PCMag, an online resource for laboratory-based product reviews, technology news, buying guides, and research papers; Mashable for publishing technology and culture content; Spiceworks Ziff Davis provides digital content of IT products and services; retailMeNot, a savings destination platform; Offers.com, a coupon and deals website; and event-based properties, including BlackFriday.com, TheBlackFriday.com, BestBlackFriday.com, and DealsofAmerica.com.