Zendesk (NYSE:ZEN) Shares Down 0.4%

Zendesk Inc (NYSE:ZEN) shares fell 0.4% during mid-day trading on Tuesday . The company traded as low as $74.18 and last traded at $74.33, 34,895 shares were traded during mid-day trading. A decline of 97% from the average session volume of 1,372,954 shares. The stock had previously closed at $74.65.

Several analysts recently commented on ZEN shares. Compass Point began coverage on shares of Zendesk in a research note on Tuesday, August 13th. They issued a “buy” rating and a $100.00 price objective for the company. William Blair reissued a “buy” rating on shares of Zendesk in a research note on Thursday, October 10th. Royal Bank of Canada lowered their price target on Zendesk to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity reduced their price objective on Zendesk from $105.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Zendesk in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $93.99.

The stock’s 50 day moving average price is $72.15 and its 200 day moving average price is $80.49. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.29. The company has a market cap of $8.86 billion, a price-to-earnings ratio of -78.94 and a beta of 1.23.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. The firm had revenue of $210.48 million during the quarter, compared to analyst estimates of $207.40 million. Zendesk had a negative net margin of 21.97% and a negative return on equity of 26.50%. On average, equities analysts expect that Zendesk Inc will post -0.75 earnings per share for the current fiscal year.

In related news, SVP John Geschke sold 5,700 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $79.54, for a total transaction of $453,378.00. Following the completion of the sale, the senior vice president now directly owns 27,360 shares of the company’s stock, valued at approximately $2,176,214.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Jeffrey J. Titterton sold 700 shares of Zendesk stock in a transaction on Friday, October 18th. The stock was sold at an average price of $67.47, for a total transaction of $47,229.00. Following the sale, the chief marketing officer now directly owns 12,891 shares in the company, valued at approximately $869,755.77. The disclosure for this sale can be found here. Insiders sold 90,143 shares of company stock valued at $6,733,210 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its position in Zendesk by 20.5% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,844 shares of the software maker’s stock worth $253,000 after purchasing an additional 484 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Zendesk by 29.5% in the second quarter. Aperio Group LLC now owns 15,343 shares of the software maker’s stock valued at $1,366,000 after buying an additional 3,495 shares in the last quarter. Cypress Funds LLC raised its holdings in shares of Zendesk by 35.3% in the 2nd quarter. Cypress Funds LLC now owns 345,000 shares of the software maker’s stock worth $30,715,000 after acquiring an additional 90,000 shares during the last quarter. Capital Investment Advisory Services LLC lifted its position in Zendesk by 50.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 600 shares of the software maker’s stock valued at $56,000 after acquiring an additional 200 shares in the last quarter. Finally, Quest Capital Management Inc. ADV purchased a new stake in Zendesk in the 3rd quarter valued at $94,000. 95.79% of the stock is owned by institutional investors and hedge funds.

About Zendesk (NYSE:ZEN)

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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