Zendesk Inc (ZEN) Holdings Reduced by Wasatch Advisors Inc.
Wasatch Advisors Inc. lowered its holdings in Zendesk Inc (NYSE:ZEN) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,315,891 shares of the software maker’s stock after selling 7,305 shares during the quarter. Zendesk accounts for about 1.2% of Wasatch Advisors Inc.’s holdings, making the stock its 28th biggest position. Wasatch Advisors Inc.’s holdings in Zendesk were worth $111,851,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. TIAA CREF Investment Management LLC raised its holdings in Zendesk by 5.1% during the third quarter. TIAA CREF Investment Management LLC now owns 807,879 shares of the software maker’s stock worth $57,359,000 after purchasing an additional 39,199 shares in the last quarter. Vanguard Group Inc raised its holdings in Zendesk by 4.2% during the third quarter. Vanguard Group Inc now owns 8,930,795 shares of the software maker’s stock worth $634,087,000 after purchasing an additional 360,069 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Zendesk by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 13,003 shares of the software maker’s stock worth $758,000 after purchasing an additional 252 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Zendesk by 3,529.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,085 shares of the software maker’s stock worth $180,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Strs Ohio raised its holdings in Zendesk by 16.5% during the fourth quarter. Strs Ohio now owns 4,528 shares of the software maker’s stock worth $264,000 after purchasing an additional 640 shares in the last quarter. 94.16% of the stock is owned by institutional investors.
A number of research firms have weighed in on ZEN. Zacks Investment Research cut shares of Zendesk from a “buy” rating to a “hold” rating and set a $98.00 price objective on the stock. in a report on Friday, May 3rd. Morgan Stanley raised their price objective on shares of Zendesk from $97.00 to $102.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Stifel Nicolaus lifted their target price on shares of Zendesk from $75.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Craig Hallum reaffirmed a “buy” rating and issued a $110.00 target price (up from $84.00) on shares of Zendesk in a report on Wednesday, May 1st. Finally, Canaccord Genuity lifted their target price on shares of Zendesk from $85.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Zendesk has an average rating of “Buy” and a consensus price target of $90.93.
NYSE:ZEN traded up $0.78 during midday trading on Wednesday, reaching $88.96. The stock had a trading volume of 12,379 shares, compared to its average volume of 1,792,535. Zendesk Inc has a 12-month low of $45.60 and a 12-month high of $90.00. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market cap of $9.83 billion, a price-to-earnings ratio of -93.48 and a beta of 1.64.
Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, April 30th. The software maker reported ($0.28) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.28). Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.37%. The firm had revenue of $181.48 million for the quarter, compared to analyst estimates of $179.53 million. During the same period last year, the firm posted $0.02 EPS. Zendesk’s quarterly revenue was up 39.8% on a year-over-year basis. As a group, analysts expect that Zendesk Inc will post -1.07 earnings per share for the current fiscal year.
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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