Zendesk Inc (NYSE:ZEN) Stock Holdings Boosted by M&T Bank Corp

M&T Bank Corp raised its position in shares of Zendesk Inc (NYSE:ZEN) by 253.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,386 shares of the software maker’s stock after purchasing an additional 6,732 shares during the quarter. M&T Bank Corp’s holdings in Zendesk were worth $835,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Zendesk by 4.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,225 shares of the software maker’s stock valued at $287,000 after purchasing an additional 140 shares in the last quarter. Capital Investment Advisory Services LLC lifted its stake in Zendesk by 50.0% during the second quarter. Capital Investment Advisory Services LLC now owns 600 shares of the software maker’s stock valued at $56,000 after purchasing an additional 200 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Zendesk by 6.6% during the second quarter. Janney Montgomery Scott LLC now owns 5,865 shares of the software maker’s stock worth $522,000 after buying an additional 362 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in Zendesk by 30.7% during the second quarter. Flagship Harbor Advisors LLC now owns 1,713 shares of the software maker’s stock worth $152,000 after buying an additional 402 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Zendesk by 0.4% in the first quarter. California State Teachers Retirement System now owns 166,483 shares of the software maker’s stock worth $14,151,000 after buying an additional 651 shares during the last quarter. Institutional investors own 93.66% of the company’s stock.

ZEN has been the topic of several research reports. Canaccord Genuity upped their price target on Zendesk from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Zacks Investment Research upgraded Zendesk from a “sell” rating to a “hold” rating in a report on Sunday. Royal Bank of Canada cut their target price on Zendesk from $109.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 3rd. Compass Point started coverage on Zendesk in a report on Tuesday, August 13th. They set a “buy” rating and a $100.00 target price for the company. Finally, KeyCorp reiterated a “buy” rating and issued a $108.00 price target (up previously from $102.00) on shares of Zendesk in a research report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $98.09.

In other Zendesk news, SVP John Geschke sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $93.93, for a total value of $140,895.00. Following the completion of the sale, the senior vice president now owns 22,068 shares in the company, valued at approximately $2,072,847.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Jeffrey J. Titterton sold 388 shares of Zendesk stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $91.96, for a total transaction of $35,680.48. Following the sale, the chief marketing officer now directly owns 12,307 shares of the company’s stock, valued at approximately $1,131,751.72. The disclosure for this sale can be found here. Insiders have sold a total of 257,380 shares of company stock valued at $20,202,336 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Shares of Zendesk stock traded up $1.35 during midday trading on Wednesday, hitting $77.18. The company’s stock had a trading volume of 24,431 shares, compared to its average volume of 1,485,484. Zendesk Inc has a 1-year low of $45.60 and a 1-year high of $94.89. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $8.39 billion, a P/E ratio of -81.15 and a beta of 1.31. The stock has a 50-day simple moving average of $80.92 and a 200-day simple moving average of $84.47.

Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.33. The firm had revenue of $194.58 million for the quarter, compared to analyst estimates of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. Zendesk’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, sell-side analysts predict that Zendesk Inc will post -1.13 earnings per share for the current year.

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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