Twin Capital Management Inc. Has $5.57 Million Stock Position in Zendesk Inc (NYSE:ZEN)

Twin Capital Management Inc. trimmed its holdings in shares of Zendesk Inc (NYSE:ZEN) by 10.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 62,532 shares of the software maker’s stock after selling 7,198 shares during the period. Twin Capital Management Inc.’s holdings in Zendesk were worth $5,567,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Janus Henderson Group PLC increased its position in 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 purchasing an additional 296,002 shares during the last quarter. OppenheimerFunds Inc. increased its position in Zendesk by 5.0% in the 1st quarter. OppenheimerFunds Inc. now owns 998,880 shares of the software maker’s stock worth $84,905,000 after purchasing an additional 47,137 shares during the last quarter. Geode Capital Management LLC increased its position in Zendesk by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 986,067 shares of the software maker’s stock worth $57,556,000 after purchasing an additional 61,660 shares during the last quarter. First Trust Advisors LP increased its position in Zendesk by 40.1% in the 2nd quarter. First Trust Advisors LP now owns 864,905 shares of the software maker’s stock worth $77,002,000 after purchasing an additional 247,599 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in Zendesk by 7.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 690,333 shares of the software maker’s stock worth $61,460,000 after purchasing an additional 45,416 shares during the last quarter. 96.40% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ZEN traded down $0.33 during mid-day trading on Thursday, hitting $74.37. 44,833 shares of the company’s stock traded hands, compared to its average volume of 2,215,251. The firm’s 50 day moving average price is $87.73. Zendesk Inc has a 12 month low of $45.60 and a 12 month high of $94.89. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of -78.37 and a beta of 1.51. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.23.

Zendesk (NYSE:ZEN) last announced its 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. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The firm had revenue of $194.58 million during the quarter, compared to the consensus estimate of $192.47 million. During the same quarter in the prior year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. On average, equities analysts forecast that Zendesk Inc will post -1.13 earnings per share for the current year.

In other Zendesk news, CMO Jeffrey J. Titterton sold 503 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $88.16, for a total value of $44,344.48. Following the completion of the sale, the chief marketing officer now owns 16,141 shares in the company, valued at approximately $1,422,990.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elena Gomez sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $86.51, for a total value of $475,805.00. Following the completion of the sale, the chief financial officer now owns 26,436 shares of the company’s stock, valued at approximately $2,286,978.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,925 shares of company stock valued at $7,896,329. 4.60% of the stock is owned by corporate insiders.

Several brokerages have weighed in on ZEN. KeyCorp reaffirmed a “buy” rating and issued a $108.00 target price (up from $102.00) on shares of Zendesk in a research report on Tuesday, July 30th. Craig Hallum reiterated a “buy” rating and set a $110.00 price target (up previously from $84.00) on shares of Zendesk in a research note on Wednesday, May 1st. Compass Point initiated coverage on Zendesk in a research note on Tuesday. They set a “buy” rating and a $100.00 price target for the company. Wells Fargo & Co upped their price target on Zendesk from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, Goldman Sachs Group initiated coverage on Zendesk in a research note on Friday, June 7th. They set a “buy” rating and a $105.00 price target for the company. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $97.29.

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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