Virginia Retirement Systems ET AL Buys 1,400 Shares of Zendesk Inc (ZEN)

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Virginia Retirement Systems ET AL grew its stake in shares of Zendesk Inc (NYSE:ZEN) by 9.9% during the first quarter, Holdings Channel reports. The institutional investor owned 15,500 shares of the software maker’s stock after purchasing an additional 1,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Zendesk were worth $1,318,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. bought a new stake in shares of Zendesk during the first quarter valued at approximately $305,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Zendesk during the first quarter valued at approximately $274,000. Capital Investment Advisory Services LLC bought a new stake in shares of Zendesk during the first quarter valued at approximately $34,000. Glaxis Capital Management LLC bought a new stake in shares of Zendesk during the first quarter valued at approximately $2,214,000. Finally, CWM LLC increased its position in shares of Zendesk by 90.0% during 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 in the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on ZEN shares. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Sunday, January 6th. Oppenheimer assumed coverage on shares of Zendesk in a research report on Thursday, January 24th. They issued a “market perform” rating and a $71.70 target price for the company. Cowen lifted their target price on shares of Zendesk from $72.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Canaccord Genuity lifted their target price on shares of Zendesk from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Finally, Bank of America lifted their target price on shares of Zendesk from $68.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $90.67.

In other news, insider Jeffrey J. Titterton sold 503 shares of Zendesk stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $83.41, for a total transaction of $41,955.23. Following the transaction, the insider now owns 14,093 shares in the company, valued at approximately $1,175,497.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 2,000 shares of Zendesk stock in a transaction on Monday, February 4th. The stock was sold at an average price of $70.00, for a total transaction of $140,000.00. Following the transaction, the chief financial officer now owns 26,326 shares in the company, valued at approximately $1,842,820. The disclosure for this sale can be found here. Insiders have sold a total of 94,613 shares of company stock worth $7,459,350 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

NYSE:ZEN opened at $83.65 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.10. Zendesk Inc has a 12 month low of $45.60 and a 12 month high of $87.92. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of -88.05 and a beta of 1.64.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported ($0.28) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.28). The business had revenue of $181.48 million for the quarter, compared to analysts’ expectations of $179.53 million. Zendesk had a negative net margin of 22.52% and a negative return on equity of 25.53%. The company’s revenue was up 39.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. On average, sell-side analysts forecast that Zendesk Inc will post -0.96 earnings per share for the current year.

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About Zendesk

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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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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