Matrix Ix Management Lowers stake in Zendesk Inc (ZEN)

Zendesk Inc (ZEN) : Matrix Ix Management reduced its stake in Zendesk Inc by 61.45% during the most recent quarter end. The investment management company now holds a total of 599,235 shares of Zendesk Inc which is valued at $18,420,484 after selling 955,234 shares in Zendesk Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Zendesk Inc makes up approximately 100.00% of Matrix Ix Management’s portfolio.

Other Hedge Funds, Including , Blue Rock Advisors added ZEN to its portfolio by purchasing 21,054 company shares during the most recent quarter which is valued at $647,200. Zendesk Inc makes up approx 5.96% of Blue Rock Advisors’s portfolio. Suffolk Capital Management added ZEN to its portfolio by purchasing 87,614 company shares during the most recent quarter which is valued at $2,697,635. Zendesk Inc makes up approx 0.32% of Suffolk Capital Management’s portfolio.Eam Investors reduced its stake in ZEN by selling 53,010 shares or 39.44% in the most recent quarter. The Hedge Fund company now holds 81,403 shares of ZEN which is valued at $2,453,486. Zendesk Inc makes up approx 0.35% of Eam Investors’s portfolio.Cutler Group Lp reduced its stake in ZEN by selling 10,579 shares or 80.71% in the most recent quarter. The Hedge Fund company now holds 2,528 shares of ZEN which is valued at $73,716.

Zendesk Inc opened for trading at $29.85 and hit $30.23 on the upside on Wednesday, eventually ending the session at $30.05, with a gain of 0.30% or 0.09 points. The heightened volatility saw the trading volume jump to 7,04,927 shares. Company has a market cap of $2,819 M.

On the company’s financial health, Zendesk Inc reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.09. The company had revenue of $74.20 million for the quarter, compared to analysts expectations of $72.34 million. The company’s revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on Zendesk Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $27 .Zendesk Inc was Initiated by Stifel to “Hold” on Jul 19, 2016. Piper Jaffray Initiated Zendesk Inc on Jun 1, 2016 to “Overweight”, Price Target of the shares are set at $35.

Zendesk Inc. (Zendesk) is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company answers customers’ questions and solves their problems through email chat voice social media and Websites. Its platform also helps people find answers on their own through knowledge bases and communities. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company through its subsidiary Zopim provides live chat software as a standalone service and as an integrated service with its customer service platform for chat-enabled agents. The Company also offers freemium plans for its customer service platform and live chat software as well as email collaboration software. Its customers are located in 150 countries and territories and provide service through its customer service platform in over 40 languages.

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