ZIX (ZIXI) Lifted to “Buy” at Zacks Investment Research

ZIX (NASDAQ:ZIXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage presently has a $6.50 target price on the software maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 5.01% 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. “

ZIXI has been the subject of a number of other reports. BidaskClub raised ZIX from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. ValuEngine raised ZIX from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 26th. Northland Securities assumed coverage on ZIX in a research note on Friday, November 16th. They set an “outperform” rating and a $9.00 price target for the company. TheStreet raised ZIX from a “c+” rating to a “b-” rating in a research note on Friday, November 2nd. Finally, Craig Hallum raised ZIX from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Wednesday, October 24th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. ZIX has an average rating of “Buy” and an average target price of $7.00.

NASDAQ:ZIXI opened at $6.19 on Friday. The company has a market capitalization of $335.49 million, a PE ratio of 77.38, a P/E/G ratio of 1.11 and a beta of 0.78. ZIX has a 1 year low of $3.82 and a 1 year high of $7.09.

ZIX (NASDAQ:ZIXI) last posted its quarterly earnings data on Tuesday, October 23rd. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $17.90 million during the quarter, compared to analyst estimates of $17.73 million. ZIX had a positive return on equity of 12.33% and a negative net margin of 9.72%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. On average, sell-side analysts predict that ZIX will post 0.27 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of ZIXI. Metropolitan Life Insurance Co. NY bought a new stake in shares of ZIX during the 2nd quarter worth approximately $100,000. Citadel Advisors LLC bought a new stake in ZIX during the 2nd quarter valued at $106,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in ZIX during the 3rd quarter valued at $113,000. Macquarie Group Ltd. raised its position in ZIX by 62.0% during the 2nd quarter. Macquarie Group Ltd. now owns 24,300 shares of the software maker’s stock valued at $131,000 after purchasing an additional 9,300 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in ZIX during the 2nd quarter valued at $140,000. 71.33% of the stock is owned by hedge funds and other institutional investors.

About ZIX

Zix Corporation provides email encryption, threat protection, archiving, bring-your-own-device security, and data loss prevention solutions for the healthcare, financial services, insurance, and government sectors primarily in the United States. The company offers Zix Email Encryption that allows an enterprise to use policy-driven rules to determine email messages that should be sent securely to comply with regulations or company-defined policies.

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