Manchester Financial Inc. grew its holdings in Zendesk, Inc. (NYSE:ZEN) by 1,428.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 214 shares of the software maker’s stock after buying an additional 200 shares during the quarter. Manchester Financial Inc.’s holdings in Zendesk were worth $28,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ZEN. Sei Investments Co. raised its position in shares of Zendesk by 2.5% in the third quarter. Sei Investments Co. now owns 112,205 shares of the software maker’s stock valued at $11,586,000 after buying an additional 2,765 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Zendesk during the 3rd quarter worth $209,000. Strs Ohio boosted its position in shares of Zendesk by 9.2% during the 3rd quarter. Strs Ohio now owns 11,032 shares of the software maker’s stock worth $1,135,000 after purchasing an additional 934 shares in the last quarter. Redpoint Investment Management Pty Ltd acquired a new position in shares of Zendesk during the 4th quarter worth $348,000. Finally, Sheets Smith Wealth Management raised its stake in shares of Zendesk by 56.3% during the 4th quarter. Sheets Smith Wealth Management now owns 3,242 shares of the software maker’s stock worth $464,000 after buying an additional 1,168 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.
A number of research analysts have recently commented on ZEN shares. Oppenheimer reaffirmed an “outperform” rating and set a $180.00 price objective (up previously from $170.00) on shares of Zendesk in a research note on Friday, February 5th. Wolfe Research assumed coverage on Zendesk in a research report on Wednesday, April 28th. They issued an “outperform” rating and a $180.00 target price on the stock. Zacks Investment Research raised Zendesk from a “sell” rating to a “hold” rating in a research report on Thursday, April 8th. Canaccord Genuity increased their price target on Zendesk from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on Zendesk from $165.00 to $181.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $153.47.
ZEN opened at $138.39 on Wednesday. Zendesk, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $166.60. The business has a 50-day moving average of $141.64 and a 200-day moving average of $138.99. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market capitalization of $16.42 billion, a PE ratio of -88.15 and a beta of 1.27.
Zendesk, Inc, a software development company, provides software as a service solutions for organizations in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.
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