Wells Fargo & Company MN reduced its position in shares of Zendesk (NYSE:ZEN) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,743,898 shares of the software maker’s stock after selling 361,656 shares during the period. Wells Fargo & Company MN owned about 1.69% of Zendesk worth $83,480,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ZEN. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Zendesk by 47.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after buying an additional 1,836 shares during the period. First Mercantile Trust Co. acquired a new position in shares of Zendesk during the fourth quarter worth about $210,000. Invictus RG acquired a new position in shares of Zendesk during the fourth quarter worth about $268,000. Paloma Partners Management Co acquired a new position in shares of Zendesk during the fourth quarter worth about $288,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Zendesk during the fourth quarter worth about $333,000. 94.89% of the stock is owned by institutional investors.
In other news, insider Adrian Mcdermott sold 40,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $43.54, for a total value of $1,741,600.00. Following the completion of the sale, the insider now owns 121,465 shares in the company, valued at approximately $5,288,586.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Geschke sold 5,000 shares of the business’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $48.74, for a total transaction of $243,700.00. Following the completion of the sale, the senior vice president now owns 13,850 shares of the company’s stock, valued at approximately $675,049. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,387 shares of company stock valued at $2,983,315. Company insiders own 4.70% of the company’s stock.
Shares of NYSE ZEN opened at $56.39 on Friday. The company has a market cap of $5.82 billion, a P/E ratio of -54.75 and a beta of 1.51. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 1.10. Zendesk has a 52 week low of $24.71 and a 52 week high of $57.31.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, May 1st. The software maker reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.05. Zendesk had a negative net margin of 24.18% and a negative return on equity of 30.37%. The business had revenue of $129.79 million during the quarter, compared to analyst estimates of $126.76 million. equities research analysts anticipate that Zendesk will post -0.97 EPS for the current year.
Several research firms have recently weighed in on ZEN. ValuEngine raised Zendesk from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Bank of America upped their price objective on Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $46.00 price objective on shares of Zendesk in a research report on Wednesday, February 7th. Morgan Stanley upped their price objective on Zendesk from $48.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 2nd. Finally, KeyCorp reissued a “buy” rating and set a $58.00 price target on shares of Zendesk in a research report on Friday, May 18th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.13.
Zendesk Company Profile
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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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