Legal & General Group Plc increased its stake in Zendesk Inc (NYSE:ZEN) by 8.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,596 shares of the software maker’s stock after purchasing an additional 4,317 shares during the period. Legal & General Group Plc’s holdings in Zendesk were worth $3,070,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ZEN. Westfield Capital Management Co. LP boosted its stake in Zendesk by 97.9% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,498,026 shares of the software maker’s stock worth $87,440,000 after purchasing an additional 741,013 shares during the period. 1832 Asset Management L.P. boosted its stake in Zendesk by 80.6% in the 4th quarter. 1832 Asset Management L.P. now owns 1,317,500 shares of the software maker’s stock worth $75,062,000 after purchasing an additional 587,800 shares during the period. Bank of New York Mellon Corp boosted its stake in Zendesk by 114.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,012,123 shares of the software maker’s stock worth $59,077,000 after purchasing an additional 539,839 shares during the period. Assenagon Asset Management S.A. boosted its stake in Zendesk by 1,198.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 525,307 shares of the software maker’s stock worth $30,662,000 after purchasing an additional 484,856 shares during the period. Finally, Capital World Investors boosted its stake in Zendesk by 124.2% in the 3rd quarter. Capital World Investors now owns 818,500 shares of the software maker’s stock worth $58,114,000 after purchasing an additional 453,500 shares during the period. 96.55% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ZEN opened at $83.22 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.10. Zendesk Inc has a one year low of $45.60 and a one year high of $86.85. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of -87.60 and a beta of 1.66.
Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, February 5th. The software maker reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.38. The company had revenue of $172.25 million for the quarter, compared to analysts’ expectations of $165.56 million. Zendesk had a negative net margin of 21.89% and a negative return on equity of 24.19%. Zendesk’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, equities analysts forecast that Zendesk Inc will post -0.96 EPS for the current fiscal year.
A number of brokerages recently weighed in on ZEN. Zacks Investment Research lowered shares of Zendesk from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Deutsche Bank boosted their price target on shares of Zendesk from $88.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. KeyCorp boosted their price target on shares of Zendesk from $71.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 6th. Royal Bank of Canada boosted their price target on shares of Zendesk to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Finally, Wedbush cut their price target on shares of Zendesk from $75.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, February 4th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $79.14.
In other news, insider Adrian Mcdermott sold 2,241 shares of the company’s stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $63.11, for a total value of $141,429.51. Following the sale, the insider now directly owns 80,267 shares of the company’s stock, valued at approximately $5,065,650.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Norman Gennaro sold 6,820 shares of the company’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $77.00, for a total transaction of $525,140.00. Following the completion of the sale, the senior vice president now directly owns 10,455 shares in the company, valued at $805,035. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,070 shares of company stock worth $7,004,303. 4.70% of the stock is owned by insiders.
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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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