Hewlett Packard Enterprise Company $HPE Stock Position Lowered by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC trimmed its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE) by 20.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 474,893 shares of the technology company’s stock after selling 118,865 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Hewlett Packard Enterprise were worth $21,422,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HPE. Rehmann Capital Advisory Group purchased a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at $325,000. Headlands Technologies LLC acquired a new position in Hewlett Packard Enterprise during the second quarter valued at $1,072,000. Quantitative Investment Management LLC raised its position in Hewlett Packard Enterprise by 16.8% during the second quarter. Quantitative Investment Management LLC now owns 58,984 shares of the technology company’s stock valued at $2,660,000 after buying an additional 8,478 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Hewlett Packard Enterprise in the 2nd quarter worth about $46,859,000. Finally, Sigma Planning Corp boosted its position in Hewlett Packard Enterprise by 11.2% during the 2nd quarter. Sigma Planning Corp now owns 12,024 shares of the technology company’s stock worth $542,000 after acquiring an additional 1,210 shares during the period. 80.78% of the stock is owned by institutional investors and hedge funds.

Hewlett Packard Enterprise Price Performance

Shares of HPE opened at $52.25 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.75 and a current ratio of 1.09. The firm has a market cap of $69.19 billion, a PE ratio of 48.83, a PEG ratio of 0.56 and a beta of 1.42. The firm’s 50 day moving average price is $49.53 and its 200 day moving average price is $37.06. Hewlett Packard Enterprise Company has a twelve month low of $19.84 and a twelve month high of $64.25.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Monday, June 1st. The technology company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.54 by $0.25. The company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $9.78 billion. Hewlett Packard Enterprise had a net margin of 3.94% and a return on equity of 11.91%. Hewlett Packard Enterprise’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.82) EPS. As a group, research analysts expect that Hewlett Packard Enterprise Company will post 2.92 EPS for the current fiscal year.

Analysts Set New Price Targets

HPE has been the topic of a number of research reports. Citigroup upped their target price on Hewlett Packard Enterprise from $70.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 24th. Loop Capital raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and boosted their price objective for the company from $23.00 to $75.00 in a research report on Tuesday, June 2nd. Weiss Ratings upgraded shares of Hewlett Packard Enterprise from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. Zacks Research lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Piper Sandler restated a “neutral” rating and set a $63.00 price target (up from $23.00) on shares of Hewlett Packard Enterprise in a report on Tuesday, June 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.93.

Insider Transactions at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, SVP Kirt P. Karros sold 18,785 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $48.50, for a total transaction of $911,072.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.44% of the company’s stock.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE’s product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.