Shares of Zix Co. (NASDAQ:ZIXI) shot up 5.2% on Wednesday . The stock traded as high as $7.67 and last traded at $7.66, 608,067 shares changed hands during mid-day 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 reports. Zacks Investment Research raised ZIX from a “hold” rating to a “strong-buy” rating and set a $9.50 price objective on the stock in a report on Saturday, August 10th. BidaskClub cut ZIX from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. ValuEngine downgraded ZIX from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen initiated coverage on ZIX in a research report on Thursday, May 23rd. They set an “outperform” rating and a $11.00 target price for the company. Finally, TheStreet lowered ZIX from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.13.

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

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

A number of hedge funds have recently made changes to their positions in ZIXI. Bank of Montreal Can grew its holdings in ZIX by 2,185.1% during the 1st quarter. Bank of Montreal Can now owns 16,453 shares of the software maker’s stock worth $113,000 after acquiring an additional 15,733 shares during the period. RK Capital Management LLC bought a new position in shares of ZIX in the 2nd quarter worth $4,787,000. Allianz Asset Management GmbH grew its stake in shares of ZIX by 702.4% during the second quarter. Allianz Asset Management GmbH now owns 1,156,503 shares of the software maker’s stock worth $10,512,000 after purchasing an additional 1,012,368 shares during the period. GMT Capital Corp acquired a new stake in shares of ZIX during the first quarter worth $167,000. Finally, Shell Asset Management Co. bought a new stake in ZIX in the first quarter valued at about $336,000. 72.63% of the stock is currently owned by hedge funds and other institutional investors.

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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