O Shares Investment Advisers LLC decreased its stake in Zendesk Inc (NYSE:ZEN) by 35.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,427 shares of the software maker’s stock after selling 4,056 shares during the period. O Shares Investment Advisers LLC’s holdings in Zendesk were worth $631,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in ZEN. Vanguard Group Inc raised its position in Zendesk by 4.2% in the 3rd quarter. Vanguard Group Inc now owns 8,930,795 shares of the software maker’s stock valued at $634,087,000 after purchasing an additional 360,069 shares during the last quarter. Strs Ohio raised its position in Zendesk by 16.5% in the 4th quarter. Strs Ohio now owns 4,528 shares of the software maker’s stock valued at $264,000 after purchasing an additional 640 shares during the last quarter. Advisors Asset Management Inc. raised its position in Zendesk by 24.7% in the 4th quarter. Advisors Asset Management Inc. now owns 7,270 shares of the software maker’s stock valued at $424,000 after purchasing an additional 1,440 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Zendesk by 383.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,450 shares of the software maker’s stock valued at $85,000 after purchasing an additional 1,150 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Zendesk by 88.6% in the 4th quarter. SG Americas Securities LLC now owns 4,776 shares of the software maker’s stock valued at $279,000 after purchasing an additional 2,243 shares during the last quarter. 97.45% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on ZEN. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Thursday, April 4th. Stifel Nicolaus lifted their price objective on Zendesk from $75.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and issued a $103.00 price objective (up previously from $95.00) on shares of Zendesk in a research report on Thursday, May 23rd. Goldman Sachs Group began coverage on Zendesk in a research report on Friday, June 7th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Canaccord Genuity lifted their price objective on Zendesk from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $92.14.
Shares of ZEN stock traded up $0.19 on Wednesday, reaching $87.88. 28,230 shares of the stock were exchanged, compared to its average volume of 1,794,433. The company has a market cap of $10.07 billion, a P/E ratio of -92.52 and a beta of 1.59. Zendesk Inc has a one year low of $45.60 and a one year high of $93.72. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, April 30th. The software maker reported ($0.28) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.28). The company had revenue of $181.48 million during the quarter, compared to the consensus estimate of $179.53 million. Zendesk had a negative return on equity of 25.37% and a negative net margin of 22.52%. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 earnings per share. As a group, equities research analysts anticipate that Zendesk Inc will post -1.07 earnings per share for the current fiscal year.
In other news, SVP John Geschke sold 915 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $92.48, for a total transaction of $84,619.20. Following the completion of the sale, the senior vice president now owns 20,854 shares in the company, valued at $1,928,577.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mikkel Svane sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $85.75, for a total value of $4,287,500.00. Following the sale, the chief executive officer now owns 1,424,521 shares of the company’s stock, valued at approximately $122,152,675.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,523 shares of company stock valued at $9,756,227. 4.60% of the stock is currently owned by corporate insiders.
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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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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