Cornercap Investment Counsel Inc. Acquires Shares of 57,322 Zuora, Inc. (NYSE:ZUO)

Cornercap Investment Counsel Inc. bought a new position in shares of Zuora, Inc. (NYSE:ZUO) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 57,322 shares of the company’s stock, valued at approximately $494,000.

A number of other large investors also recently made changes to their positions in the company. Scalar Gauge Management LLC boosted its holdings in shares of Zuora by 35.4% in the 2nd quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after purchasing an additional 1,332,343 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Zuora by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock valued at $157,434,000 after purchasing an additional 917,565 shares during the period. Bares Capital Management Inc. lifted its stake in shares of Zuora by 41.4% in the 1st quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock valued at $15,926,000 after purchasing an additional 511,292 shares during the period. Solel Partners LP grew its holdings in shares of Zuora by 13.5% in the second quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock valued at $40,299,000 after acquiring an additional 483,445 shares in the last quarter. Finally, Divisar Capital Management LLC purchased a new position in Zuora in the second quarter valued at approximately $4,575,000. Institutional investors own 83.02% of the company’s stock.

Zuora Price Performance

Shares of ZUO stock opened at $9.90 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.77 and a current ratio of 2.77. The company’s 50-day simple moving average is $9.24 and its two-hundred day simple moving average is $9.34. Zuora, Inc. has a one year low of $7.70 and a one year high of $10.85.

Zuora (NYSE:ZUO) last posted its earnings results on Wednesday, August 21st. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $112.63 million. Zuora had a negative net margin of 10.60% and a negative return on equity of 12.54%. Zuora’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) earnings per share.

Wall Street Analysts Forecast Growth

ZUO has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating and set a $15.00 target price on shares of Zuora in a research report on Monday, October 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Zuora in a research note on Thursday, August 22nd. Finally, Lake Street Capital restated a “hold” rating and issued a $10.00 price objective on shares of Zuora in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.43.

Insider Activity at Zuora

In other Zuora news, CFO Todd Mcelhatton sold 51,879 shares of Zuora stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total transaction of $432,670.86. Following the completion of the sale, the chief financial officer now directly owns 356,875 shares in the company, valued at $2,976,337.50. This trade represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tien Tzuo sold 63,873 shares of Zuora stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $8.34, for a total transaction of $532,700.82. Following the sale, the chief executive officer now owns 63,312 shares of the company’s stock, valued at approximately $528,022.08. This represents a 50.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,081 shares of company stock worth $1,857,391. 8.62% of the stock is owned by company insiders.

Zuora Profile

Zuora, Inc provides a monetization suite for modern businesses to help companies launch and scale new services and operate dynamic customer-centric business models. The company offers Zuora Billing that allows customers to deploy various pricing and packaging strategies to monetize their recurring revenue streams, bill customers, calculate prorations when subscriptions change, and automate billing and payment operations; Zuora Revenue, a revenue recognition and automation solution that accounting teams use to manage their complex revenue streams; Zuora Payments to provide payment orchestration services for companies looking to operate globally; and Zephr, a digital subscriber experience platform that helps companies orchestrate dynamic experiences that increase conversion, reduce churn, and nurture ongoing subscriber relationships.