Pendal Group Ltd Cuts Holdings in Zendesk Inc (NYSE:ZEN)

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Pendal Group Ltd trimmed its holdings in shares of Zendesk Inc (NYSE:ZEN) by 13.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,988 shares of the software maker’s stock after selling 609 shares during the period. Pendal Group Ltd’s holdings in Zendesk were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ZEN. CIBC Private Wealth Group LLC purchased a new position in shares of Zendesk in the 1st quarter worth $54,818,000. Neuberger Berman Group LLC boosted its stake in shares of Zendesk by 982.4% in the 1st quarter. Neuberger Berman Group LLC now owns 469,810 shares of the software maker’s stock worth $39,934,000 after buying an additional 426,405 shares during the last quarter. AO Asset Management LP boosted its stake in shares of Zendesk by 171.0% in the 1st quarter. AO Asset Management LP now owns 476,700 shares of the software maker’s stock worth $40,520,000 after buying an additional 300,800 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Zendesk by 10.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,180,927 shares of the software maker’s stock worth $283,198,000 after buying an additional 296,002 shares during the last quarter. Finally, Half Sky Capital UK Ltd boosted its stake in shares of Zendesk by 207.0% in the 1st quarter. Half Sky Capital UK Ltd now owns 393,315 shares of the software maker’s stock worth $33,432,000 after buying an additional 265,200 shares during the last quarter. Institutional investors and hedge funds own 96.40% of the company’s stock.

Shares of Zendesk stock opened at $76.30 on Friday. Zendesk Inc has a one year low of $45.60 and a one year high of $94.89. The stock’s fifty day moving average is $87.25 and its 200 day moving average is $84.07. The stock has a market cap of $8.29 billion, a P/E ratio of -80.32 and a beta of 1.51. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.67 and a current ratio of 0.67.

Zendesk (NYSE:ZEN) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.33. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The company had revenue of $194.58 million for the quarter, compared to analysts’ expectations of $192.47 million. During the same period last year, the firm earned $0.03 EPS. Zendesk’s revenue for the quarter was up 37.1% compared to the same quarter last year. Analysts predict that Zendesk Inc will post -1.13 EPS for the current year.

A number of equities analysts have recently issued reports on the company. Compass Point assumed coverage on Zendesk in a research note on Tuesday. They issued a “buy” rating and a $100.00 price target on the stock. Goldman Sachs Group assumed coverage on Zendesk in a research note on Friday, June 7th. They issued a “buy” rating and a $105.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $103.00 price target (up from $95.00) on shares of Zendesk in a research note on Thursday, May 23rd. UBS Group set a $98.00 price target on Zendesk and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus set a $92.00 price target on Zendesk and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $97.29.

In other Zendesk news, CEO Mikkel Svane sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $74.96, for a total transaction of $3,748,000.00. Following the sale, the chief executive officer now directly owns 1,377,934 shares of the company’s stock, valued at $103,289,932.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John Geschke sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $93.93, for a total value of $140,895.00. Following the sale, the senior vice president now directly owns 22,068 shares in the company, valued at $2,072,847.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,669 shares of company stock worth $11,533,600. 4.60% of the stock is owned by insiders.

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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