Zurcher Kantonalbank Zurich Cantonalbank Has $108,000 Stake in Zendesk, Inc. (ZEN)
Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Zendesk, Inc. (NYSE:ZEN) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,887 shares of the software maker’s stock after acquiring an additional 352 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Zendesk were worth $108,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in Zendesk in the 1st quarter worth about $103,000. Fortaleza Asset Management Inc. purchased a new position in Zendesk in the 2nd quarter worth about $115,000. Independent Portfolio Consultants Inc. purchased a new position in Zendesk in the 2nd quarter worth about $153,000. Ameritas Investment Partners Inc. purchased a new position in Zendesk in the 1st quarter worth about $197,000. Finally, Gotham Asset Management LLC purchased a new position in Zendesk in the 1st quarter worth about $211,000. 96.07% of the stock is currently owned by institutional investors.
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Several research analysts recently commented on ZEN shares. KeyCorp reaffirmed a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research note on Friday, August 4th. BidaskClub downgraded shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $33.00 price target on shares of Zendesk in a research note on Tuesday, September 12th. Evercore ISI started coverage on shares of Zendesk in a research note on Friday, September 8th. They issued an “outperform” rating and a $34.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $33.09.
In other Zendesk news, insider Adrian Mcdermott sold 1,766 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $26.42, for a total value of $46,657.72. Following the transaction, the insider now directly owns 80,435 shares in the company, valued at $2,125,092.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Caryn Marooney sold 26,970 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $27.56, for a total transaction of $743,293.20. Following the completion of the transaction, the director now owns 77,533 shares in the company, valued at $2,136,809.48. The disclosure for this sale can be found here. Insiders sold 118,285 shares of company stock worth $3,331,273 over the last quarter. 5.30% of the stock is currently owned by insiders.
Shares of Zendesk, Inc. (NYSE ZEN) opened at 28.06 on Monday. Zendesk, Inc. has a 1-year low of $19.77 and a 1-year high of $31.36. The company has a 50-day moving average of $27.66 and a 200-day moving average of $27.66. The firm’s market capitalization is $2.82 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.20). The company had revenue of $101.30 million during the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. The business’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Equities research analysts predict that Zendesk, Inc. will post ($0.17) EPS for the current fiscal year.
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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