Adams Street Partners LLC Takes Position in Zendesk, Inc. (ZEN)
Adams Street Partners LLC purchased a new position in Zendesk, Inc. (NYSE:ZEN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 55,258 shares of the software maker’s stock, valued at approximately $1,535,000. Zendesk makes up about 0.4% of Adams Street Partners LLC’s holdings, making the stock its 9th largest position.
Other institutional investors also recently modified their holdings of the company. State of Wisconsin Investment Board boosted its position in shares of Zendesk by 62.8% in the second quarter. State of Wisconsin Investment Board now owns 325,680 shares of the software maker’s stock worth $9,047,000 after buying an additional 125,680 shares in the last quarter. Denver Investment Advisors LLC boosted its position in shares of Zendesk by 7.4% in the second quarter. Denver Investment Advisors LLC now owns 29,097 shares of the software maker’s stock worth $808,000 after buying an additional 2,010 shares in the last quarter. Trillium Asset Management LLC boosted its position in shares of Zendesk by 5.7% in the second quarter. Trillium Asset Management LLC now owns 55,841 shares of the software maker’s stock worth $1,551,000 after buying an additional 3,003 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Zendesk by 17.6% in the second quarter. Rhumbline Advisers now owns 109,872 shares of the software maker’s stock worth $3,052,000 after buying an additional 16,479 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Zendesk during the second quarter worth $216,000. 92.62% of the stock is currently owned by hedge funds and other institutional investors.
Zendesk, Inc. (ZEN) opened at 27.07 on Tuesday. Zendesk, Inc. has a 1-year low of $19.77 and a 1-year high of $31.88. The stock’s market cap is $2.72 billion. The firm’s 50-day moving average price is $28.22 and its 200 day moving average price is $27.41.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.20. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $99.47 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue was up 36.5% compared to the same quarter last year. Equities research analysts expect that Zendesk, Inc. will post ($0.17) EPS for the current year.
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A number of equities analysts recently weighed in on the company. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut Zendesk from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies set a $33.00 price target on Zendesk and gave the stock a “buy” rating in a research note on Saturday, August 5th. KeyCorp reaffirmed a “buy” rating and set a $35.00 target price on shares of Zendesk in a research note on Friday, August 4th. Finally, Stifel Nicolaus reaffirmed 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 stock. The stock has an average rating of “Buy” and a consensus target price of $33.00.
In related news, insider Adrian Mcdermott sold 2,870 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $24.98, for a total transaction of $71,692.60. Following the completion of the transaction, the insider now directly owns 80,000 shares in the company, valued at $1,998,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Bryan Cox sold 2,184 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $27.05, for a total value of $59,077.20. Following the transaction, the executive now owns 28,537 shares of the company’s stock, valued at $771,925.85. The disclosure for this sale can be found here. Insiders sold 147,054 shares of company stock valued at $4,050,482 over the last 90 days. Corporate 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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