Mckinley Capital Management LLC Delaware Has $482,000 Stake in Zendesk Inc (ZEN)

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Mckinley Capital Management LLC Delaware lifted its stake in shares of Zendesk Inc (NYSE:ZEN) by 172.9% in the third quarter, Holdings Channel reports. The fund owned 6,794 shares of the software maker’s stock after acquiring an additional 4,304 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Zendesk were worth $482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ZEN. Catalyst Capital Advisors LLC raised its position in shares of Zendesk by 2,509.9% during the second quarter. Catalyst Capital Advisors LLC now owns 2,114 shares of the software maker’s stock worth $115,000 after acquiring an additional 2,033 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Zendesk by 211.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,242 shares of the software maker’s stock worth $159,000 after acquiring an additional 1,523 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Zendesk during the second quarter worth about $180,000. Tower Research Capital LLC TRC bought a new position in shares of Zendesk during the second quarter worth about $193,000. Finally, BB&T Securities LLC bought a new position in shares of Zendesk during the second quarter worth about $200,000. Institutional investors own 91.99% of the company’s stock.

Shares of Zendesk stock opened at $54.92 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.78 and a debt-to-equity ratio of 1.12. Zendesk Inc has a 52 week low of $31.90 and a 52 week high of $72.76.

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

In other Zendesk news, Director Elizabeth A. Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $70.42, for a total value of $704,200.00. Following the completion of the sale, the director now owns 40,983 shares of the company’s stock, valued at $2,886,022.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $67.20, for a total value of $33,600.00. Following the completion of the sale, the chief financial officer now directly owns 18,062 shares of the company’s stock, valued at approximately $1,213,766.40. The disclosure for this sale can be found here. Insiders sold 114,646 shares of company stock valued at $6,697,838 in the last three months. Insiders own 4.70% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Zendesk from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Stifel Nicolaus lifted their target price on Zendesk from $60.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, September 11th. Deutsche Bank lowered their target price on Zendesk from $85.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Craig Hallum lifted their target price on Zendesk from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Evercore ISI reiterated a “buy” rating and issued a $70.00 target price on shares of Zendesk in a report on Sunday, August 5th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Zendesk has a consensus rating of “Buy” and an average target price of $65.83.

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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, 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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Want to see what other hedge funds are holding ZEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zendesk Inc (NYSE:ZEN).

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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