California State Teachers Retirement System grew its stake in shares of Zendesk Inc (NYSE:ZEN) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 165,832 shares of the software maker’s stock after acquiring an additional 5,567 shares during the period. California State Teachers Retirement System’s holdings in Zendesk were worth $9,680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ZEN. FIL Ltd bought a new stake in shares of Zendesk during the third quarter valued at about $87,586,000. Alliancebernstein L.P. increased its position in shares of Zendesk by 683.9% during the third quarter. Alliancebernstein L.P. now owns 1,070,764 shares of the software maker’s stock valued at $76,024,000 after buying an additional 934,164 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Zendesk by 97.9% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,498,026 shares of the software maker’s stock valued at $87,440,000 after buying an additional 741,013 shares during the period. Bank of New York Mellon Corp increased its position in shares of Zendesk by 114.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,012,123 shares of the software maker’s stock valued at $59,077,000 after buying an additional 539,839 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Zendesk by 1,198.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 525,307 shares of the software maker’s stock valued at $30,662,000 after buying an additional 484,856 shares during the period. Hedge funds and other institutional investors own 95.68% of the company’s stock.

ZEN has been the topic of several analyst reports. Jefferies Financial Group upped their price target on Zendesk to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 6th. Bank of America upped their price target on Zendesk from $68.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, February 6th. Craig Hallum upped their price objective on shares of Zendesk from $68.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Canaccord Genuity upped their price objective on shares of Zendesk from $65.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Finally, Deutsche Bank upped their price objective on shares of Zendesk to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Zendesk currently has an average rating of “Buy” and an average price target of $77.44.

ZEN stock opened at $84.02 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $9.07 billion, a P/E ratio of -88.44 and a beta of 1.66. Zendesk Inc has a 1-year low of $44.42 and a 1-year high of $84.95.

Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.38. The company had revenue of $172.25 million for the quarter, compared to analysts’ expectations of $165.56 million. Zendesk had a negative net margin of 21.89% and a negative return on equity of 24.19%. Zendesk’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. As a group, sell-side analysts predict that Zendesk Inc will post -0.96 earnings per share for the current year.

In other Zendesk news, Director L Michelle Wilson sold 19,586 shares of the company’s stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $63.29, for a total value of $1,239,597.94. Following the completion of the sale, the director now owns 157,847 shares of the company’s stock, valued at $9,990,136.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Geschke sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $62.88, for a total value of $440,160.00. Following the completion of the sale, the senior vice president now directly owns 26,618 shares of the company’s stock, valued at approximately $1,673,739.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,900 shares of company stock valued at $8,119,828. 4.70% of the stock is owned by insiders.

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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, 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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