California State Teachers Retirement System reduced its holdings in Zendesk Inc (NYSE:ZEN) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,862 shares of the software maker’s stock after selling 5,324 shares during the quarter. California State Teachers Retirement System’s holdings in Zendesk were worth $7,270,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ZEN. Pendal Group Ltd acquired a new stake in Zendesk in the 1st quarter valued at approximately $188,000. Aperio Group LLC acquired a new stake in Zendesk in the 1st quarter valued at approximately $215,000. Zeke Capital Advisors LLC acquired a new stake in Zendesk in the 1st quarter valued at approximately $263,000. Invictus RG acquired a new position in shares of Zendesk during the 4th quarter valued at $268,000. Finally, Paloma Partners Management Co acquired a new position in shares of Zendesk during the 4th quarter valued at $288,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.
Several brokerages have recently issued reports on ZEN. Morgan Stanley lifted their price target on Zendesk from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Craig Hallum lifted their price target on Zendesk from $45.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, May 18th. JMP Securities lifted their price target on Zendesk from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 18th. Stifel Nicolaus lifted their price target on Zendesk from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, May 18th. Finally, KeyCorp reiterated a “buy” rating and set a $58.00 price target on shares of Zendesk in a research report on Friday, May 18th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $48.63.
ZEN opened at $54.49 on Friday. The firm has a market cap of $5.73 billion, a PE ratio of -52.90 and a beta of 1.55. The company has a debt-to-equity ratio of 1.10, a current ratio of 3.20 and a quick ratio of 3.20. Zendesk Inc has a fifty-two week low of $25.09 and a fifty-two week high of $60.26.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, May 1st. The software maker reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.05. The business had revenue of $129.79 million during the quarter, compared to analyst estimates of $126.76 million. Zendesk had a negative return on equity of 30.37% and a negative net margin of 24.18%. equities research analysts forecast that Zendesk Inc will post -0.97 earnings per share for the current fiscal year.
In other news, insider Adrian Mcdermott sold 915 shares of the firm’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $55.00, for a total value of $50,325.00. Following the completion of the sale, the insider now owns 80,267 shares of the company’s stock, valued at $4,414,685. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Nelson sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $56.68, for a total value of $566,800.00. Following the completion of the sale, the director now directly owns 15,810 shares of the company’s stock, valued at approximately $896,110.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,101 shares of company stock valued at $2,143,848. Corporate insiders own 4.70% of the company’s stock.
Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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