Zacks Investment Research Upgrades Zix Corporation (ZIXI) to Buy

Zix Corporation (NASDAQ:ZIXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $5.25 target price on the software maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.25% from the company’s current price.

According to Zacks, “Zix Corporation is the leading provider of hosted email encryption and e-prescribing services. ZixCorp’s hosted Email Encryption Service provides an easy and cost-effective way to ensure customer privacy and regulatory compliance for corporate email. Its PocketScript e-prescribing service reduces costs and improves patient care by automating the prescription process between payors, doctors, and pharmacies. “

Other equities research analysts also recently issued research reports about the company. Dougherty & Co reissued a “buy” rating and issued a $7.00 target price (up previously from $5.50) on shares of Zix Corporation in a report on Saturday, July 22nd. BidaskClub downgraded Zix Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd.

Zix Corporation (NASDAQ:ZIXI) last released its earnings results on Tuesday, October 24th. The software maker reported $0.07 EPS for the quarter, meeting analysts’ consensus estimates of $0.07. Zix Corporation had a return on equity of 16.07% and a net margin of 10.49%. The company had revenue of $16.60 million during the quarter, compared to the consensus estimate of $16.83 million. During the same quarter last year, the company earned $0.07 earnings per share. Zix Corporation’s quarterly revenue was up 8.5% compared to the same quarter last year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings 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 acquiring an additional 331,490 shares during the period. Vanguard Group Inc. lifted its holdings in Zix Corporation by 4.9% in the first quarter. Vanguard Group Inc. now owns 2,134,718 shares of the software maker’s stock valued at $10,268,000 after acquiring an additional 100,217 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 acquiring an additional 188,317 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 217,199 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Zix Corporation by 10.9% in the first quarter. Geode Capital Management LLC now owns 493,262 shares of the software maker’s stock valued at $2,371,000 after acquiring an additional 48,355 shares during the period. 68.07% of the stock is owned by institutional investors.

Zix Corporation Company Profile

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.

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