Steward Partners Investment Advisory LLC boosted its stake in shares of Zendesk, Inc. (NYSE:ZEN – Get Rating) by 231.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481 shares of the software maker’s stock after purchasing an additional 336 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Zendesk were worth $58,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Zendesk in the 4th quarter valued at $26,000. Quadrant Capital Group LLC raised its stake in shares of Zendesk by 102.3% in the 4th quarter. Quadrant Capital Group LLC now owns 259 shares of the software maker’s stock valued at $27,000 after buying an additional 131 shares in the last quarter. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Zendesk during the 1st quarter worth about $34,000. William Allan LLC acquired a new stake in shares of Zendesk during the 4th quarter worth about $38,000. Finally, National Bank of Canada FI acquired a new stake in shares of Zendesk during the 4th quarter worth about $39,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ZEN. Canaccord Genuity Group cut shares of Zendesk from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. William Blair cut shares of Zendesk from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. Craig Hallum cut shares of Zendesk from a “buy” rating to a “hold” rating and dropped their target price for the stock from $140.00 to $77.50 in a research report on Wednesday, June 29th. Jefferies Financial Group dropped their target price on shares of Zendesk from $120.00 to $110.00 in a research report on Monday, May 23rd. Finally, Barclays reissued an “equal weight” rating and set a $78.00 price objective (down previously from $170.00) on shares of Zendesk in a report on Tuesday, June 28th. Fifteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $95.69.
Zendesk Stock Up 0.3 %
Zendesk (NYSE:ZEN – Get Rating) last issued its earnings results on Thursday, July 28th. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $407.21 million for the quarter, compared to analyst estimates of $404.68 million. Zendesk had a negative net margin of 18.33% and a negative return on equity of 42.82%. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.35) EPS. Equities analysts expect that Zendesk, Inc. will post -1.06 EPS for the current year.
Insider Activity at Zendesk
In related news, insider Norman Gennaro sold 7,000 shares of the stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $75.50, for a total value of $528,500.00. Following the sale, the insider now directly owns 29,813 shares in the company, valued at approximately $2,250,881.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 21,242 shares of company stock worth $1,779,236 in the last ninety days. Company insiders own 2.92% of the company’s stock.
Zendesk, Inc, a software development company, provides software as a service solutions for organizations in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.
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