Massachusetts Financial Services Co. MA decreased its holdings in shares of Zendesk Inc (NYSE:ZEN) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 520,570 shares of the software maker’s stock after selling 39,500 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Zendesk were worth $36,961,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in Zendesk by 36.4% during the second quarter. Millennium Management LLC now owns 2,174,017 shares of the software maker’s stock worth $118,462,000 after buying an additional 579,772 shares during the last quarter. Whale Rock Capital Management LLC raised its holdings in Zendesk by 11.5% during the second quarter. Whale Rock Capital Management LLC now owns 2,136,638 shares of the software maker’s stock worth $116,425,000 after buying an additional 220,190 shares during the last quarter. Columbus Circle Investors raised its holdings in Zendesk by 24.9% during the second quarter. Columbus Circle Investors now owns 1,134,473 shares of the software maker’s stock worth $61,817,000 after buying an additional 226,127 shares during the last quarter. Bank of America Corp DE raised its holdings in Zendesk by 162.9% during the second quarter. Bank of America Corp DE now owns 1,080,019 shares of the software maker’s stock worth $58,851,000 after buying an additional 669,269 shares during the last quarter. Finally, Cadian Capital Management LP grew its stake in shares of Zendesk by 275.9% in the 2nd quarter. Cadian Capital Management LP now owns 963,339 shares of the software maker’s stock worth $52,492,000 after acquiring an additional 707,039 shares in the last quarter. Hedge funds and other institutional investors own 91.96% of the company’s stock.
Several research firms have recently issued reports on ZEN. Morgan Stanley upped their target price on shares of Zendesk from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Stifel Nicolaus upped their target price on shares of Zendesk from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Deutsche Bank reduced their target price on shares of Zendesk from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday. Craig Hallum upped their target price on shares of Zendesk from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, Evercore ISI reiterated a “buy” rating and issued a $70.00 target price on shares of Zendesk in a research note on Sunday, August 5th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $65.59.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The company had revenue of $154.83 million during the quarter, compared to analyst estimates of $151.78 million. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.66%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. As a group, equities analysts predict that Zendesk Inc will post -0.92 EPS for the current year.
In related news, CFO Elena Gomez sold 1,092 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $60.79, for a total transaction of $66,382.68. Following the completion of the transaction, the chief financial officer now owns 16,666 shares in the company, valued at $1,013,126.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adrian Mcdermott sold 1,809 shares of the stock in a transaction dated Wednesday, October 17th. The shares were sold at an average price of $63.70, for a total transaction of $115,233.30. Following the transaction, the insider now owns 80,267 shares of the company’s stock, valued at approximately $5,113,007.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,704 shares of company stock valued at $7,476,072. 4.70% of the stock is owned by company insiders.
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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