Several other equities analysts have also recently weighed in on the company. Berenberg Bank reiterated a hold rating and issued a $94.00 price target on shares of Vmware in a research report on Tuesday, August 29th. Zacks Investment Research upgraded Vmware from a hold rating to a buy rating and set a $134.00 price target for the company in a research report on Wednesday, October 25th. Stifel Nicolaus reiterated a buy rating and issued a $118.00 price target (up from $109.00) on shares of Vmware in a research report on Friday, August 25th. BMO Capital Markets lifted their price target on Vmware from $105.00 to $110.00 and gave the company a market perform rating in a research report on Tuesday, August 15th. Finally, MKM Partners reiterated a buy rating and issued a $120.00 price target (up from $110.00) on shares of Vmware in a research report on Monday, August 28th. Fifteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $115.35.
Shares of Vmware (NYSE VMW) opened at $121.84 on Friday. The stock has a market capitalization of $50,039.12, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.98 and a quick ratio of 1.98. Vmware has a one year low of $74.85 and a one year high of $122.44.
Vmware (NYSE:VMW) last issued its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. equities research analysts predict that Vmware will post 3.79 EPS for the current year.
Vmware announced that its board has authorized a share repurchase plan on Monday, August 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the virtualization software provider to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, COO Rajiv Ramaswami sold 9,747 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $118.16, for a total value of $1,151,705.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total value of $47,624,399.42. The disclosure for this sale can be found here. In the last three months, insiders sold 466,314 shares of company stock valued at $51,024,652. 0.52% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. L & S Advisors Inc bought a new position in Vmware during the 3rd quarter valued at approximately $3,418,000. AMP Capital Investors Ltd raised its position in Vmware by 1.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 77,197 shares of the virtualization software provider’s stock valued at $8,428,000 after purchasing an additional 942 shares during the last quarter. Allianz Asset Management GmbH raised its position in Vmware by 25.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 15,675 shares of the virtualization software provider’s stock valued at $1,712,000 after purchasing an additional 3,156 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Vmware by 2.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,900 shares of the virtualization software provider’s stock valued at $3,059,000 after purchasing an additional 600 shares during the last quarter. Finally, Argent Trust Co bought a new position in Vmware during the 3rd quarter valued at approximately $205,000. 22.27% of the stock is owned by institutional investors and hedge funds.
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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