Zendesk Inc (ZEN) Stake Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Zendesk Inc (NYSE:ZEN) by 87,251.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 776,553 shares of the software maker’s stock after buying an additional 775,664 shares during the quarter. Victory Capital Management Inc. owned 0.73% of Zendesk worth $55,135,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ZEN. Dimensional Fund Advisors LP acquired a new stake in Zendesk during the first quarter worth about $5,235,000. Principal Financial Group Inc. boosted its holdings in Zendesk by 40.6% during the first quarter. Principal Financial Group Inc. now owns 16,259 shares of the software maker’s stock valued at $779,000 after purchasing an additional 4,692 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Zendesk during the second quarter valued at approximately $680,000. Fox Run Management L.L.C. acquired a new stake in Zendesk during the second quarter valued at approximately $549,000. Finally, Pendal Group Ltd boosted its holdings in Zendesk by 24.0% during the second quarter. Pendal Group Ltd now owns 4,873 shares of the software maker’s stock valued at $266,000 after purchasing an additional 943 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on ZEN. Stifel Nicolaus lifted their price objective on Zendesk from $60.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. Jefferies Financial Group began coverage on Zendesk in a report on Monday, October 1st. They set a “buy” rating and a $82.00 price objective on the stock. Morgan Stanley lifted their price objective on Zendesk from $72.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, September 18th. Deutsche Bank began coverage on Zendesk in a report on Monday, October 8th. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Evercore ISI reaffirmed a “buy” rating and set a $70.00 price objective on shares of Zendesk in a report on Sunday, August 5th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $65.59.

In related news, CFO Elena Gomez sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $455,000.00. Following the completion of the transaction, the chief financial officer now owns 23,614 shares in the company, valued at approximately $1,534,910. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Geschke sold 7,666 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $61.99, for a total transaction of $475,215.34. Following the sale, the senior vice president now owns 17,119 shares of the company’s stock, valued at approximately $1,061,206.81. The disclosure for this sale can be found here. Insiders sold a total of 98,876 shares of company stock valued at $6,331,517 in the last 90 days. 4.70% of the stock is currently owned by corporate insiders.

ZEN stock opened at $57.64 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.78 and a quick ratio of 2.74. Zendesk Inc has a fifty-two week low of $31.90 and a fifty-two week high of $72.76. The company has a market capitalization of $5.67 billion, a P/E ratio of -55.96 and a beta of 1.84.

Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.05. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.15%. The firm had revenue of $154.83 million during the quarter, compared to analysts’ expectations of $151.78 million. During the same quarter in the previous year, the company posted ($0.02) EPS. Zendesk’s revenue was up 37.9% on a year-over-year basis. As a group, sell-side analysts forecast that Zendesk Inc will post -0.92 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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