Schwab Charles Investment Management Inc. boosted its stake in shares of Zendesk Inc (NYSE:ZEN) by 6.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 487,367 shares of the software maker’s stock after acquiring an additional 31,057 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Zendesk were worth $16,493,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in ZEN. Ameriprise Financial Inc. boosted its position in Zendesk by 755.0% during the third quarter. Ameriprise Financial Inc. now owns 827,334 shares of the software maker’s stock worth $24,083,000 after purchasing an additional 730,570 shares during the period. State Street Corp boosted its position in Zendesk by 22.6% during the second quarter. State Street Corp now owns 1,813,976 shares of the software maker’s stock worth $50,395,000 after purchasing an additional 334,769 shares during the period. Alyeska Investment Group L.P. bought a new stake in Zendesk during the third quarter worth approximately $9,017,000. Pictet Asset Management Ltd. boosted its position in Zendesk by 40.8% during the third quarter. Pictet Asset Management Ltd. now owns 747,990 shares of the software maker’s stock worth $21,774,000 after purchasing an additional 216,761 shares during the period. Finally, Granahan Investment Management Inc. MA bought a new stake in Zendesk during the third quarter worth approximately $5,290,000. 92.33% of the stock is owned by hedge funds and other institutional investors.
Zendesk Inc (ZEN) opened at $42.55 on Friday. Zendesk Inc has a 1-year low of $24.49 and a 1-year high of $43.83. The company has a market capitalization of $4,320.00, a P/E ratio of -38.33 and a beta of 1.87.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $123.43 million during the quarter, compared to analyst estimates of $119.68 million. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. equities research analysts expect that Zendesk Inc will post -1 EPS for the current fiscal year.
ZEN has been the subject of a number of recent analyst reports. Canaccord Genuity upped their target price on Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised Zendesk from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, November 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $42.00 target price on shares of Zendesk in a research report on Tuesday, January 23rd. Royal Bank of Canada reaffirmed a “buy” rating and set a $42.00 target price on shares of Zendesk in a research report on Wednesday, January 17th. Finally, Bank of America upped their target price on Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $40.31.
In related news, insider Adrian Mcdermott sold 1,425 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $43.00, for a total value of $61,275.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 1,200 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $33.66, for a total value of $40,392.00. Following the completion of the transaction, the chief financial officer now owns 2,535 shares of the company’s stock, valued at $85,328.10. The disclosure for this sale can be found here. Insiders sold 161,858 shares of company stock valued at $6,360,478 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.
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Zendesk Company Profile
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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