Strs Ohio reduced its position in Zendesk Inc (NYSE:ZEN) by 26.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,888 shares of the software maker’s stock after selling 1,364 shares during the quarter. Strs Ohio’s holdings in Zendesk were worth $276,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in ZEN. Dimensional Fund Advisors LP acquired a new position in shares of Zendesk in the first quarter worth about $5,235,000. Principal Financial Group Inc. lifted its stake in shares of Zendesk by 40.6% in the first quarter. Principal Financial Group Inc. now owns 16,259 shares of the software maker’s stock worth $779,000 after acquiring an additional 4,692 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Zendesk in the second quarter worth about $680,000. Fox Run Management L.L.C. acquired a new position in shares of Zendesk in the second quarter worth about $549,000. Finally, Pendal Group Ltd lifted its stake in shares of Zendesk by 24.0% in the second quarter. Pendal Group Ltd now owns 4,873 shares of the software maker’s stock worth $266,000 after acquiring an additional 943 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.
Several research analysts recently commented on the company. Stifel Nicolaus boosted their price target on Zendesk from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Jefferies Financial Group assumed coverage on Zendesk in a research note on Monday, October 1st. They issued a “buy” rating and a $82.00 price target on the stock. Morgan Stanley boosted their price target on Zendesk from $72.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 18th. Deutsche Bank assumed coverage on Zendesk in a research note on Monday, October 8th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Evercore ISI reiterated a “buy” rating and issued a $70.00 price target on shares of Zendesk in a research note on Sunday, August 5th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Zendesk has a consensus rating of “Buy” and a consensus price target of $65.59.
In other news, CFO Elena Gomez sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $67.20, for a total transaction of $33,600.00. Following the completion of the transaction, the chief financial officer now directly owns 18,062 shares of the company’s stock, valued at $1,213,766.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John T. Keiser sold 1,489 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $62.10, for a total value of $92,466.90. Following the transaction, the chief operating officer now directly owns 25,452 shares of the company’s stock, valued at $1,580,569.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,210 shares of company stock valued at $3,905,802. 4.70% of the stock is owned by corporate insiders.
Shares of Zendesk stock opened at $52.55 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.78 and a quick ratio of 1.79. The stock has a market capitalization of $5.82 billion, a P/E ratio of -51.02 and a beta of 1.84. Zendesk Inc has a fifty-two week low of $31.90 and a fifty-two week high of $72.76.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The firm had revenue of $154.83 million during the quarter, compared to analyst estimates of $151.78 million. Zendesk had a negative return on equity of 26.15% and a negative net margin of 22.64%. Zendesk’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. Equities research analysts anticipate that Zendesk Inc will post -0.92 earnings per share for the current fiscal year.
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Zendesk Company Profile
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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