PNC Financial Services Group Inc. increased its holdings in Zendesk Inc (NYSE:ZEN) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,031 shares of the software maker’s stock after buying an additional 182 shares during the period. PNC Financial Services Group Inc.’s holdings in Zendesk were worth $711,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado raised its position in shares of Zendesk by 20.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 16,452 shares of the software maker’s stock worth $1,053,000 after buying an additional 2,788 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Zendesk by 137.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 7,888 shares of the software maker’s stock worth $505,000 after buying an additional 4,565 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Zendesk by 34.5% during the 1st quarter. Ensign Peak Advisors Inc now owns 22,294 shares of the software maker’s stock worth $1,427,000 after buying an additional 5,720 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Zendesk by 25.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,569 shares of the software maker’s stock worth $228,000 after buying an additional 722 shares in the last quarter. Finally, Virginia Retirement Systems ET AL raised its position in shares of Zendesk by 0.9% during the 1st quarter. Virginia Retirement Systems ET AL now owns 21,600 shares of the software maker’s stock worth $1,383,000 after buying an additional 200 shares in the last quarter. 97.39% of the stock is owned by institutional investors and hedge funds.
Shares of ZEN opened at $99.37 on Monday. The company’s 50 day moving average price is $93.21 and its 200 day moving average price is $81.95. Zendesk Inc has a 52 week low of $50.23 and a 52 week high of $107.79. The company has a market capitalization of $11.47 billion, a PE ratio of -63.29 and a beta of 1.33. The company has a debt-to-equity ratio of 2.54, a quick ratio of 2.73 and a current ratio of 2.73.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Thursday, July 30th. The software maker reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.34. Zendesk had a negative net margin of 19.24% and a negative return on equity of 22.55%. The firm had revenue of $246.66 million for the quarter, compared to the consensus estimate of $239.82 million. On average, equities analysts forecast that Zendesk Inc will post -0.68 earnings per share for the current fiscal year.
A number of research firms recently commented on ZEN. Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Saturday, August 1st. Canaccord Genuity boosted their target price on shares of Zendesk from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Morgan Stanley boosted their target price on shares of Zendesk from $91.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Piper Sandler upgraded shares of Zendesk from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $87.00 to $123.00 in a report on Tuesday, September 1st. Finally, Oppenheimer began coverage on shares of Zendesk in a report on Tuesday, August 11th. They issued a “buy” rating and a $113.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $102.58.
In other Zendesk news, insider John Geschke sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $103.62, for a total value of $569,910.00. Following the completion of the sale, the insider now directly owns 35,219 shares of the company’s stock, valued at $3,649,392.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ying Christina Liu sold 437 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $87.93, for a total transaction of $38,425.41. Following the completion of the sale, the chief accounting officer now directly owns 1,112 shares of the company’s stock, valued at $97,778.16. The disclosure for this sale can be found here. Insiders have sold 113,637 shares of company stock worth $10,218,658 over the last ninety days. 4.30% of the stock is currently owned by insiders.
Zendesk 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, 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.
See Also: Return on Equity (ROE)
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