Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Zuora, Inc. (NYSE:ZUO)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Zuora, Inc. (NYSE:ZUO) by 27.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 502,634 shares of the company’s stock after acquiring an additional 109,570 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.33% of Zuora worth $4,333,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZUO. Vanguard Group Inc. boosted its holdings in Zuora by 5.6% in the first quarter. Vanguard Group Inc. now owns 17,262,494 shares of the company’s stock worth $157,434,000 after purchasing an additional 917,565 shares during the last quarter. Scalar Gauge Management LLC boosted its stake 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 worth $50,556,000 after buying an additional 1,332,343 shares during the last quarter. 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 worth $40,299,000 after acquiring an additional 483,445 shares during the period. Bares Capital Management Inc. increased its position in Zuora by 41.4% during the first quarter. Bares Capital Management Inc. now owns 1,746,292 shares of the company’s stock valued at $15,926,000 after acquiring an additional 511,292 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Zuora by 27.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 985,632 shares of the company’s stock valued at $9,787,000 after acquiring an additional 212,200 shares during the period. 83.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zuora

In related news, CFO Todd Mcelhatton sold 51,879 shares of Zuora stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total transaction of $432,670.86. Following the sale, the chief financial officer now owns 356,875 shares of the company’s stock, valued at approximately $2,976,337.50. This trade represents a 12.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Hirsch sold 18,855 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $9.06, for a total value of $170,826.30. Following the completion of the transaction, the insider now directly owns 19,279 shares in the company, valued at approximately $174,667.74. This represents a 49.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,081 shares of company stock valued at $1,857,391 over the last ninety days. 8.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Zuora Price Performance

Shares of NYSE:ZUO opened at $9.94 on Friday. The company has a market capitalization of $1.51 billion, a P/E ratio of -31.06 and a beta of 1.70. Zuora, Inc. has a 1-year low of $7.70 and a 1-year high of $10.85. The firm’s 50 day simple moving average is $9.37 and its two-hundred day simple moving average is $9.33. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.77 and a quick ratio of 2.77.

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

Zuora Company 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.