Franklin Resources Inc. boosted its holdings in shares of Zendesk Inc (NYSE:ZEN) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,013,314 shares of the software maker’s stock after purchasing an additional 172,294 shares during the quarter. Franklin Resources Inc. owned about 2.82% of Zendesk worth $213,943,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Zendesk by 40.6% during the 1st quarter. Principal Financial Group Inc. now owns 16,259 shares of the software maker’s stock worth $779,000 after purchasing an additional 4,692 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Zendesk during the 2nd quarter worth about $474,000. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Zendesk by 19.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,575 shares of the software maker’s stock worth $1,394,000 after purchasing an additional 4,180 shares during the last quarter. Comerica Bank acquired a new position in shares of Zendesk during the 2nd quarter worth about $227,000. Finally, First Trust Advisors LP lifted its position in shares of Zendesk by 0.8% during the 2nd quarter. First Trust Advisors LP now owns 201,928 shares of the software maker’s stock worth $11,003,000 after purchasing an additional 1,580 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors.
In other Zendesk news, COO John T. Keiser sold 4,467 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $60.00, for a total value of $268,020.00. Following the completion of the transaction, the chief operating officer now owns 27,013 shares of the company’s stock, valued at approximately $1,620,780. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $52.85, for a total value of $2,642,500.00. Following the completion of the transaction, the chairman now directly owns 1,529,044 shares of the company’s stock, valued at $80,809,975.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,325 shares of company stock valued at $6,631,500. Insiders own 4.70% of the company’s stock.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.09 EPS for the quarter, beating the consensus estimate of $0.04 by $0.05. The firm had revenue of $154.83 million during the quarter, compared to analysts’ expectations of $151.78 million. Zendesk had a negative return on equity of 26.15% and a negative net margin of 22.64%. The company’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, analysts expect that Zendesk Inc will post -0.92 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the company. Zacks Investment Research raised Zendesk from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Rosenblatt Securities reissued a “buy” rating and set a $70.00 price objective on shares of Zendesk in a research report on Thursday, November 15th. Stifel Nicolaus boosted their price objective on Zendesk from $60.00 to $68.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. UBS Group set a $56.00 price objective on Zendesk and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Finally, Evercore ISI reissued a “buy” rating and set a $70.00 price objective on shares of Zendesk in a research report on Sunday, August 5th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.83.
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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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