Today, Teacher Retirement System of Texas Raises it position for Zendesk Inc. (ZEN)

Today, Teacher Retirement System of Texas Raises it position for Zendesk Inc. (ZEN)

Teacher Retirement System of Texas raised its position in shares of Zendesk Inc. (NYSE:ZEN) by 69.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,179 shares of the company’s stock after buying an additional 4,174 shares during the period. Teacher Retirement System of Texas’ holdings in Zendesk were worth $269,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Zendesk by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 10,338 shares of the company’s stock worth $272,000 after buying an additional 238 shares during the period. Suntrust Banks Inc. purchased a new position in shares of Zendesk during the second quarter worth $282,000. Fox Run Management L.L.C. purchased a new position in shares of Zendesk during the second quarter worth $346,000. Lebenthal Lisanti Capital Growth LLC purchased a new position in shares of Zendesk during the second quarter worth $509,000. Finally, Barclays PLC raised its position in shares of Zendesk by 128.3% in the first quarter. Barclays PLC now owns 37,882 shares of the company’s stock worth $758,000 after buying an additional 21,291 shares during the period. 83.65% of the stock is owned by institutional investors.

Shares of Zendesk Inc. (NYSE:ZEN) opened at 27.59 on Monday. Zendesk Inc. has a 12-month low of $14.39 and a 12-month high of $31.88. The firm’s market cap is $2.59 billion. The company’s 50 day moving average price is $30.13 and its 200 day moving average price is $26.96.

Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. The business had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Zendesk’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities research analysts forecast that Zendesk Inc. will post ($0.04) EPS for the current year.

ZEN has been the topic of a number of recent research reports. Summit Redstone initiated coverage on Zendesk in a research note on Monday, July 18th. They set a “buy” rating and a $34.00 target price on the stock. Summit Research reiterated a “buy” rating and set a $34.00 target price on shares of Zendesk in a research note on Monday, July 18th. Morgan Stanley reiterated a “buy” rating on shares of Zendesk in a research note on Sunday, July 17th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, July 7th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $35.00 target price on shares of Zendesk in a research note on Thursday, August 4th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.73.

In other Zendesk news, SVP Adrian Mcdermott sold 5,552 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $28.08, for a total transaction of $155,900.16. Following the sale, the senior vice president now owns 90,395 shares of the company’s stock, valued at approximately $2,538,291.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Geschke sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the sale, the senior vice president now directly owns 11,175 shares in the company, valued at approximately $329,662.50. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

About Zendesk

Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.

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