Public Sector Pension Investment Board reduced its position in shares of Zebra Technologies Co. (NASDAQ:ZBRA – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,920 shares of the industrial products company’s stock after selling 90 shares during the period. Public Sector Pension Investment Board’s holdings in Zebra Technologies were worth $14,832,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Center for Financial Planning Inc. acquired a new position in shares of Zebra Technologies during the third quarter valued at $58,000. Goldman Sachs Group Inc. grew its holdings in Zebra Technologies by 1.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 131,720 shares of the industrial products company’s stock valued at $67,891,000 after buying an additional 1,331 shares during the last quarter. BOKF NA acquired a new stake in shares of Zebra Technologies during the 3rd quarter worth approximately $719,000. American Century Companies Inc. boosted its stake in Zebra Technologies by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 1,299 shares of the industrial products company’s stock valued at $669,000 after buying an additional 114 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Zebra Technologies by 6.3% in the 3rd quarter. Bank of Nova Scotia now owns 12,549 shares of the industrial products company’s stock valued at $6,469,000 after buying an additional 749 shares in the last quarter. 85.30% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ ZBRA opened at $322.88 on Wednesday. The stock has a 50-day simple moving average of $385.06 and a 200 day simple moving average of $473.89. The company has a market capitalization of $16.96 billion, a PE ratio of 21.33 and a beta of 1.60. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.31. Zebra Technologies Co. has a 12 month low of $309.00 and a 12 month high of $615.00.
Zebra Technologies declared that its board has authorized a stock repurchase program on Tuesday, May 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 5.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several analysts recently commented on ZBRA shares. Zacks Investment Research raised Zebra Technologies from a “hold” rating to a “buy” rating and set a $464.00 price target on the stock in a research note on Monday, February 14th. Needham & Company LLC cut their price objective on Zebra Technologies from $535.00 to $500.00 in a research report on Wednesday, May 4th. Robert W. Baird cut their price objective on Zebra Technologies from $550.00 to $440.00 in a research report on Wednesday, May 4th. StockNews.com downgraded Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, JPMorgan Chase & Co. upgraded Zebra Technologies from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $530.00 to $500.00 in a research report on Monday, April 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Zebra Technologies presently has a consensus rating of “Buy” and an average price target of $507.71.
About Zebra Technologies (Get Rating)
Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers, which produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers, which produce images which are used for personal identification, access control, and financial transactions; RFID printers that encode data into passive RFID transponders; accessories and options for our printers, including vehicle mounts and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.
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