Cupps Capital Management Lowers stake in Zendesk Inc (ZEN)

Zendesk Inc (ZEN) : Cupps Capital Management reduced its stake in Zendesk Inc by 4.58% during the most recent quarter end. The investment management company now holds a total of 199,196 shares of Zendesk Inc which is valued at $5,922,097 after selling 9,557 shares in Zendesk Inc , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Zendesk Inc makes up approximately 2.57% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in ZEN by selling 1,355 shares or 53.6% in the most recent quarter. The Hedge Fund company now holds 1,173 shares of ZEN which is valued at $34,873.First Mercantile Trust Co reduced its stake in ZEN by selling 2,177 shares or 15.44% in the most recent quarter. The Hedge Fund company now holds 11,923 shares of ZEN which is valued at $351,967. Zendesk Inc makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Simplex Trading boosted its stake in ZEN in the latest quarter, The investment management firm added 1,606 additional shares and now holds a total of 12,391 shares of Zendesk Inc which is valued at $365,782. Zendesk Inc makes up approx 0.05% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ZEN in the latest quarter, The investment management firm added 3,607 additional shares and now holds a total of 6,806 shares of Zendesk Inc which is valued at $206,562.

Zendesk Inc closed down -1.47 points or -4.94% at $28.26 with 7,60,191 shares getting traded on Tuesday. Post opening the session at $29.74, the shares hit an intraday low of $28.08 and an intraday high of $29.74 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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