Stanley Laman Group Ltd. Takes $1 Million Position in Zendesk Inc (ZEN)

Stanley Laman Group Ltd. purchased a new position in Zendesk Inc (NYSE:ZEN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,625 shares of the software maker’s stock, valued at approximately $1,003,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. lifted its position in shares of Zendesk by 44.3% in the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after purchasing an additional 1,137 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Zendesk by 21.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,533 shares of the software maker’s stock valued at $237,000 after acquiring an additional 1,521 shares in the last quarter. Royal Bank of Canada raised its position in Zendesk by 4.3% during the second quarter. Royal Bank of Canada now owns 39,323 shares of the software maker’s stock valued at $1,093,000 after acquiring an additional 1,605 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Zendesk by 47.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock valued at $194,000 after acquiring an additional 1,836 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Zendesk by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 75,648 shares of the software maker’s stock valued at $2,560,000 after acquiring an additional 1,975 shares in the last quarter. 92.33% of the stock is owned by institutional investors and hedge funds.

Shares of Zendesk Inc (NYSE:ZEN) opened at $42.29 on Tuesday. Zendesk Inc has a 52 week low of $24.49 and a 52 week high of $42.97.

Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. The firm had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The business’s revenue was up 39.3% compared to the same quarter last year. equities research analysts anticipate that Zendesk Inc will post -1 earnings per share for the current year.

In other Zendesk news, insider Adrian Mcdermott sold 1,353 shares of Zendesk stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $34.19, for a total transaction of $46,259.07. Following the completion of the transaction, the insider now directly owns 80,948 shares of the company’s stock, valued at $2,767,612.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Geschke sold 5,000 shares of Zendesk stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $34.23, for a total value of $171,150.00. Following the transaction, the senior vice president now directly owns 16,495 shares of the company’s stock, valued at $564,623.85. The disclosure for this sale can be found here. Insiders have sold 168,012 shares of company stock worth $6,560,973 in the last quarter. Corporate insiders own 5.30% of the company’s stock.

Several brokerages recently weighed in on ZEN. Bank of America raised their price objective on shares of Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. KeyCorp increased their price target on Zendesk from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Morgan Stanley increased their price target on Zendesk from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Craig Hallum restated a “buy” rating and issued a $45.00 price objective (up previously from $37.00) on shares of Zendesk in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus raised their price objective on shares of Zendesk from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $40.31.

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About Zendesk

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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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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