Neuberger Berman Group LLC grew its stake in shares of Zendesk Inc (NYSE:ZEN) by 982.4% during the first quarter, HoldingsChannel reports. The firm owned 469,810 shares of the software maker’s stock after buying an additional 426,405 shares during the period. Neuberger Berman Group LLC’s holdings in Zendesk were worth $39,934,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc increased its position in shares of Zendesk by 4.2% during the 3rd quarter. Vanguard Group Inc now owns 8,930,795 shares of the software maker’s stock valued at $634,087,000 after purchasing an additional 360,069 shares during the last quarter. Strs Ohio increased its holdings in Zendesk by 16.5% in the 4th quarter. Strs Ohio now owns 4,528 shares of the software maker’s stock worth $264,000 after acquiring an additional 640 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Zendesk by 24.7% in the 4th quarter. Advisors Asset Management Inc. now owns 7,270 shares of the software maker’s stock worth $424,000 after acquiring an additional 1,440 shares in the last quarter. SG Americas Securities LLC increased its holdings in Zendesk by 88.6% in the 4th quarter. SG Americas Securities LLC now owns 4,776 shares of the software maker’s stock worth $279,000 after acquiring an additional 2,243 shares in the last quarter. Finally, TD Asset Management Inc. increased its holdings in Zendesk by 219.9% in the 4th quarter. TD Asset Management Inc. now owns 134,673 shares of the software maker’s stock worth $7,861,000 after acquiring an additional 92,573 shares in the last quarter. Institutional investors own 97.45% of the company’s stock.
Shares of ZEN opened at $87.99 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.34. Zendesk Inc has a 1 year low of $45.60 and a 1 year high of $93.72. The company has a market cap of $9.65 billion, a price-to-earnings ratio of -92.62 and a beta of 1.59.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, April 30th. The software maker reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.37%. The business had revenue of $181.48 million during the quarter, compared to analyst estimates of $179.53 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up 39.8% on a year-over-year basis. Analysts forecast that Zendesk Inc will post -1.07 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on ZEN shares. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Saturday, April 27th. Craig Hallum reissued a “buy” rating and issued a $110.00 target price (up from $84.00) on shares of Zendesk in a report on Wednesday, May 1st. Canaccord Genuity increased their target price on shares of Zendesk from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America reissued a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Zendesk in a report on Wednesday, May 1st. Finally, Deutsche Bank increased their target price on shares of Zendesk from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, March 29th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Zendesk presently has an average rating of “Buy” and a consensus target price of $92.14.
In other Zendesk news, SVP John Geschke sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $87.86, for a total transaction of $219,650.00. Following the completion of the sale, the senior vice president now directly owns 22,522 shares of the company’s stock, valued at approximately $1,978,782.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adrian Mcdermott sold 446 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $87.09, for a total transaction of $38,842.14. Following the sale, the insider now directly owns 81,464 shares of the company’s stock, valued at $7,094,699.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,023 shares of company stock valued at $9,975,877. Insiders own 4.60% of the company’s stock.
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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