Cornerstone Investment Partners LLC Takes $166,000 Position in Zuora, Inc. (NYSE:ZUO)

Cornerstone Investment Partners LLC acquired a new stake in Zuora, Inc. (NYSE:ZUO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,621 shares of the company’s stock, valued at approximately $166,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its position in Zuora by 85.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 514,463 shares of the company’s stock worth $4,239,000 after buying an additional 237,548 shares during the period. The Manufacturers Life Insurance Company lifted its position in Zuora by 14.0% during the third quarter. The Manufacturers Life Insurance Company now owns 3,310,341 shares of the company’s stock worth $27,277,000 after buying an additional 406,841 shares during the period. Roberts Wealth Advisors LLC purchased a new position in Zuora during the fourth quarter worth about $220,000. Vanguard Group Inc. lifted its position in Zuora by 5.5% during the third quarter. Vanguard Group Inc. now owns 15,742,063 shares of the company’s stock worth $129,715,000 after buying an additional 822,085 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Zuora by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,109,517 shares of the company’s stock worth $9,142,000 after buying an additional 71,782 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on ZUO shares. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Zuora in a research report on Thursday, February 29th. Canaccord Genuity Group cut their price objective on Zuora from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group upgraded Zuora from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Tuesday, January 23rd. Finally, Robert W. Baird cut their price objective on Zuora from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th.

Zuora Stock Performance

ZUO stock opened at $9.27 on Friday. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.69. Zuora, Inc. has a 1 year low of $7.05 and a 1 year high of $12.12. The stock has a 50-day simple moving average of $8.69 and a 200-day simple moving average of $8.52.

Zuora (NYSE:ZUO) last posted its earnings results on Wednesday, February 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Zuora had a negative return on equity of 46.38% and a negative net margin of 15.80%. The business had revenue of $110.67 million during the quarter, compared to analyst estimates of $110.80 million. Sell-side analysts forecast that Zuora, Inc. will post -0.15 EPS for the current year.

Insider Activity

In other Zuora news, insider Andrew M. Cohen sold 13,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total transaction of $133,190.00. Following the completion of the sale, the insider now owns 120,785 shares in the company, valued at approximately $1,207,850. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Zuora news, insider Andrew M. Cohen sold 13,319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $10.00, for a total transaction of $133,190.00. Following the completion of the sale, the insider now owns 120,785 shares in the company, valued at approximately $1,207,850. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Todd Mcelhatton sold 31,006 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $8.61, for a total value of $266,961.66. Following the sale, the chief financial officer now owns 277,803 shares of the company’s stock, valued at approximately $2,391,883.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 488,763 shares of company stock worth $4,455,229. 9.25% of the stock is currently owned by corporate 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.