Swiss National Bank lifted its stake in shares of Zendesk Inc (NYSE:ZEN) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,352 shares of the software maker’s stock after purchasing an additional 8,300 shares during the period. Swiss National Bank owned 0.19% of Zendesk worth $18,104,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Capital Investment Advisory Services LLC acquired a new position in shares of Zendesk during the 1st quarter worth approximately $34,000. CWM LLC lifted its holdings in Zendesk by 90.0% in the first quarter. CWM LLC now owns 532 shares of the software maker’s stock valued at $45,000 after acquiring an additional 252 shares during the last quarter. Advisory Services Network LLC acquired a new position in Zendesk in the second quarter valued at approximately $80,000. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in Zendesk in the second quarter valued at approximately $89,000. Finally, Meeder Asset Management Inc. acquired a new position in Zendesk in the first quarter valued at approximately $90,000. Institutional investors and hedge funds own 93.47% of the company’s stock.
In other news, Director Elizabeth A. Nelson sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $88.74, for a total transaction of $887,400.00. Following the sale, the director now owns 49,870 shares of the company’s stock, valued at $4,425,463.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey J. Titterton sold 13,700 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $78.83, for a total value of $1,079,971.00. Following the sale, the insider now directly owns 14,202 shares in the company, valued at approximately $1,119,543.66. The disclosure for this sale can be found here. In the last three months, insiders sold 246,337 shares of company stock worth $19,458,165. 4.60% of the stock is owned by corporate insiders.
Zendesk (NYSE:ZEN) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. The company had revenue of $194.58 million for the quarter, compared to analyst estimates of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Analysts anticipate that Zendesk Inc will post -1.13 EPS for the current fiscal year.
A number of research analysts recently commented on the company. Bank of America reiterated a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Zendesk in a report on Wednesday, May 1st. Stifel Nicolaus set a $92.00 price objective on Zendesk and gave the company a “hold” rating in a report on Wednesday, July 31st. Craig Hallum reiterated a “buy” rating and issued a $110.00 price objective (up from $84.00) on shares of Zendesk in a report on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and issued a $103.00 price objective (up from $95.00) on shares of Zendesk in a report on Thursday, May 23rd. Finally, Compass Point assumed coverage on Zendesk in a report on Tuesday, August 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $97.29.
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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