Zendesk (ZEN) Stock Price Up 5.4%

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Zendesk Inc (NYSE:ZEN) shares rose 5.4% during trading on Thursday . The company traded as high as $56.11 and last traded at $55.97. Approximately 2,721,032 shares were traded during mid-day trading, an increase of 90% from the average daily volume of 1,430,468 shares. The stock had previously closed at $53.10.

ZEN has been the subject of a number of research reports. Bank of America raised their price objective on shares of Zendesk from $64.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Morgan Stanley raised their price objective on shares of Zendesk from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Royal Bank of Canada raised their price objective on shares of Zendesk to $68.00 and gave the company an “outperform” rating in a report on Monday, July 30th. KeyCorp raised their price objective on shares of Zendesk from $58.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Zendesk from $50.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $65.83.

The firm has a market cap of $5.68 billion, a PE ratio of -53.32 and a beta of 1.84. The company has a current ratio of 1.78, a quick ratio of 1.79 and a debt-to-equity ratio of 1.12.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $154.83 million during the quarter, compared to analyst estimates of $151.78 million. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.15%. The firm’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.02) EPS. Equities analysts expect that Zendesk Inc will post -0.92 earnings per share for the current year.

In other Zendesk news, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $52.85, for a total transaction of $2,642,500.00. Following the completion of the sale, the chairman now owns 1,529,044 shares of the company’s stock, valued at approximately $80,809,975.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Geschke sold 5,000 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $69.20, for a total transaction of $346,000.00. Following the sale, the senior vice president now directly owns 17,665 shares of the company’s stock, valued at approximately $1,222,418. The disclosure for this sale can be found here. Insiders have sold a total of 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 large investors have recently added to or reduced their stakes in ZEN. FIL Ltd acquired a new stake in Zendesk during the 3rd quarter valued at approximately $87,586,000. Alliancebernstein L.P. increased its position in Zendesk by 683.9% during the 3rd quarter. Alliancebernstein L.P. now owns 1,070,764 shares of the software maker’s stock valued at $76,024,000 after purchasing an additional 934,164 shares during the period. Victory Capital Management Inc. increased its position in Zendesk by 87,251.3% during the 3rd quarter. Victory Capital Management Inc. now owns 776,553 shares of the software maker’s stock valued at $55,135,000 after purchasing an additional 775,664 shares during the period. First Trust Advisors LP increased its position in Zendesk by 369.5% during the 3rd quarter. First Trust Advisors LP now owns 948,098 shares of the software maker’s stock valued at $67,315,000 after purchasing an additional 746,170 shares during the period. Finally, Cadian Capital Management LP increased its position in Zendesk by 275.9% during the 2nd quarter. Cadian Capital Management LP now owns 963,339 shares of the software maker’s stock valued at $52,492,000 after purchasing an additional 707,039 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

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About Zendesk (NYSE:ZEN)

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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