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

Cornercap Investment Counsel Inc. bought a new position in Zuora, Inc. (NYSE:ZUO) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 57,322 shares of the company’s stock, valued at approximately $494,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Zuora by 5.6% in the 1st 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 in the last quarter. Scalar Gauge Management LLC lifted its position in Zuora by 35.4% in the second quarter. Scalar Gauge Management LLC now owns 5,091,272 shares of the company’s stock valued at $50,556,000 after buying an additional 1,332,343 shares during the last quarter. Solel Partners LP lifted its position in shares of Zuora by 13.5% during the second quarter. Solel Partners LP now owns 4,058,308 shares of the company’s stock worth $40,299,000 after purchasing an additional 483,445 shares in the last quarter. Bares Capital Management Inc. raised its holdings in Zuora by 41.4% in 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised 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 in the last quarter. Hedge funds and other institutional investors own 83.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ZUO shares. Lake Street Capital reissued a “hold” rating and set a $10.00 price objective on shares of Zuora in a report on Friday, October 18th. 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, Needham & Company LLC reiterated a “hold” rating and set a $15.00 target price on shares of Zuora in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.43.

Zuora Trading Down 0.1 %

NYSE:ZUO opened at $9.90 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.90. Zuora, Inc. has a 1-year low of $7.70 and a 1-year high of $10.85. The stock has a fifty day simple moving average of $9.24 and a 200 day simple moving average of $9.34.

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

Insider Buying and Selling at Zuora

In other Zuora news, CFO Todd Mcelhatton sold 51,879 shares of Zuora stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $8.34, for a total value of $432,670.86. Following the completion of the transaction, the chief financial officer now owns 356,875 shares in the company, valued at approximately $2,976,337.50. The trade was a 12.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Hirsch sold 18,855 shares of the business’s stock in a transaction 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 sale, the insider now owns 19,279 shares of the company’s stock, valued at approximately $174,667.74. The trade was a 49.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,081 shares of company stock valued at $1,857,391 in the last 90 days. 8.62% of the stock is currently owned by insiders.

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.