Zendesk, Inc. (NYSE:ZEN) Stake Raised by Strs Ohio
Strs Ohio raised its position in Zendesk, Inc. (NYSE:ZEN) by 6.1% during the second quarter, Holdings Channel reports. The fund owned 46,900 shares of the software maker’s stock after buying an additional 2,700 shares during the period. Strs Ohio’s holdings in Zendesk were worth $1,302,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in Zendesk during the first quarter worth approximately $103,000. Independent Portfolio Consultants Inc. acquired a new position in Zendesk during the second quarter worth approximately $153,000. Ameritas Investment Partners Inc. acquired a new position in Zendesk during the first quarter worth approximately $197,000. Gotham Asset Management LLC acquired a new position in Zendesk during the first quarter worth approximately $211,000. Finally, Parallel Advisors LLC raised its position in Zendesk by 5.3% in the first quarter. Parallel Advisors LLC now owns 7,975 shares of the software maker’s stock worth $233,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
Zendesk, Inc. (NYSE ZEN) opened at 26.29 on Friday. Zendesk, Inc. has a 52 week low of $19.77 and a 52 week high of $31.88. The company’s 50-day moving average price is $28.29 and its 200 day moving average price is $27.35. The company’s market capitalization is $2.64 billion.
Zendesk (NYSE:ZEN) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.20. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The company had revenue of $101.30 million during the quarter, compared to analyst estimates of $99.47 million. During the same quarter in the prior year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 36.5% on a year-over-year basis. On average, analysts predict that Zendesk, Inc. will post ($0.17) EPS for the current year.
A number of research firms have recently commented on ZEN. Piper Jaffray Companies set a $33.00 price objective on Zendesk and gave the stock a “buy” rating in a research note on Saturday, August 5th. BidaskClub lowered Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday. UBS AG reiterated a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Zendesk in a research note on Friday, May 5th. Zacks Investment Research lowered Zendesk from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $33.00.
In other Zendesk news, CFO Elena Gomez sold 1,780 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $27.17, for a total value of $48,362.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John Geschke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $29.34, for a total transaction of $293,400.00. Following the completion of the sale, the senior vice president now owns 19,810 shares in the company, valued at approximately $581,225.40. The disclosure for this sale can be found here. Insiders sold 148,834 shares of company stock worth $4,098,844 in the last 90 days. Company insiders own 5.30% of the company’s stock.
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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