Zix Corporation (NASDAQ:ZIXI) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Zix Corporation (NASDAQ:ZIXI) from a hold rating to a sell rating in a research report released on Wednesday morning.

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. “

A number of other research firms also recently issued reports on ZIXI. Dougherty & Co reaffirmed a buy rating and set a $7.00 price objective (up from $5.50) on shares of Zix Corporation in a report on Saturday, July 22nd. Imperial Capital downgraded shares of Zix Corporation from an outperform rating to an in-line rating and set a $6.50 price objective for the company. in a report on Tuesday, June 13th. Finally, BidaskClub cut shares of Zix Corporation from a hold rating to a sell rating in a research report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Zix Corporation currently has an average rating of Hold and an average target price of $6.08.

Shares of Zix Corporation (ZIXI) remained flat at $4.94 on Wednesday. 277,345 shares of the company were exchanged. The company has a 50 day moving average price of $5.58 and a 200-day moving average price of $5.37. Zix Corporation has a 12 month low of $3.65 and a 12 month high of $6.67. The stock has a market capitalization of $267.30 million, a price-to-earnings ratio of 41.17 and a beta of 1.36.

Zix Corporation (NASDAQ:ZIXI) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.01. Zix Corporation had a return on equity of 16.24% and a net margin of 10.48%. The company had revenue of $16.38 million for the quarter, compared to the consensus estimate of $16.34 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Equities research analysts expect that Zix Corporation will post $0.28 earnings per share for the current fiscal year.

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Zix Corporation declared that its Board of Directors has approved a share repurchase program on Tuesday, April 25th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

In other Zix Corporation news, Director Richard Spurr sold 28,995 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $5.79, for a total value of $167,881.05. Following the transaction, the director now owns 42,348 shares in the company, valued at $245,194.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 35,101 shares of company stock worth $204,212. 4.50% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ZIXI. Chicago Equity Partners LLC purchased a new position in Zix Corporation during the first quarter worth about $112,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Zix Corporation during the first quarter worth about $126,000. KCG Holdings Inc. purchased a new position in Zix Corporation during the first quarter worth about $129,000. Engineers Gate Manager LP boosted its position in Zix Corporation by 24.8% in the first quarter. Engineers Gate Manager LP now owns 27,795 shares of the software maker’s stock worth $134,000 after buying an additional 5,528 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Zix Corporation during the first quarter worth about $145,000. Hedge funds and other institutional investors own 64.24% of the company’s stock.

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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