State of Wisconsin Investment Board boosted its holdings in Zendesk Inc (NYSE:ZEN) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,605 shares of the software maker’s stock after purchasing an additional 15,840 shares during the quarter. State of Wisconsin Investment Board’s holdings in Zendesk were worth $16,286,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in ZEN. Flinton Capital Management LLC acquired a new position in shares of Zendesk during the fourth quarter valued at $30,000. Capital Investment Advisory Services LLC acquired a new position in shares of Zendesk during the first quarter valued at $34,000. Sageworth Trust Co acquired a new position in shares of Zendesk during the first quarter valued at $42,000. CWM LLC boosted its holdings in shares of Zendesk by 90.0% during the first quarter. CWM LLC now owns 532 shares of the software maker’s stock valued at $45,000 after acquiring an additional 252 shares during the period. Finally, Sonora Investment Management LLC acquired a new position in shares of Zendesk during the first quarter valued at $51,000. 97.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ZEN traded down $0.02 during midday trading on Wednesday, reaching $87.67. 569,953 shares of the company traded hands, compared to its average volume of 1,794,433. Zendesk Inc has a 52 week low of $45.60 and a 52 week 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. The stock has a market cap of $10.07 billion, a P/E ratio of -92.28 and a beta of 1.59.
Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported ($0.28) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.28). Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.37%. The business had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $179.53 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. On average, sell-side analysts anticipate that Zendesk Inc will post -1.07 earnings per share for the current fiscal year.
In other Zendesk news, CFO Elena Gomez sold 5,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $80.87, for a total value of $444,785.00. Following the sale, the chief financial officer now directly owns 27,316 shares in the company, valued at $2,209,044.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adrian Mcdermott sold 6,213 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $85.11, for a total transaction of $528,788.43. Following the completion of the sale, the insider now owns 87,677 shares in the company, valued at $7,462,189.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,523 shares of company stock worth $9,756,227. 4.60% of the stock is owned by company insiders.
Several brokerages have recently issued reports on ZEN. Morgan Stanley boosted their price target on shares of Zendesk from $97.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Bank of America reissued a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Zendesk in a report on Wednesday, May 1st. KeyCorp boosted their price target on shares of Zendesk from $92.00 to $102.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of Zendesk from a “buy” rating to a “hold” rating and set a $98.00 price objective on the stock. in a research note on Friday, May 3rd. Finally, Craig Hallum restated a “buy” rating and set a $110.00 price objective (up from $84.00) on shares of Zendesk in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Zendesk currently has a consensus rating of “Buy” and a consensus price target of $92.14.
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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