Vmware, Inc. (NYSE:VMW)‘s stock had its “buy” rating reissued by equities researchers at Barclays PLC in a research report issued to clients and investors on Friday, November 10th.
Several other research firms have also issued reports on VMW. BMO Capital Markets increased their price objective on shares of Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 15th. Drexel Hamilton reaffirmed a “buy” rating and set a $120.00 price target on shares of Vmware in a report on Thursday, November 2nd. Deutsche Bank AG raised their price target on shares of Vmware from $100.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 15th. Bank of America Corporation reissued a “buy” rating and set a $125.00 price objective (up from $120.00) on shares of Vmware in a report on Thursday, September 14th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of Vmware in a report on Tuesday, August 29th. Fifteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $116.00.
Vmware (NYSE VMW) opened at $123.59 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market cap of $51,366.39, a P/E ratio of 35.32, a P/E/G ratio of 2.88 and a beta of 0.67. Vmware has a one year low of $76.81 and a one year high of $126.33.
Vmware (NYSE:VMW) last posted its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. Vmware had a net margin of 17.81% and a return on equity of 18.06%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $0.97 earnings per share. Vmware’s revenue was up 12.2% on a year-over-year basis. research analysts forecast that Vmware will post 3.79 EPS for the current fiscal year.
Vmware announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the virtualization software provider to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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In other Vmware news, Director Egon Durban sold 435,682 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.82, for a total value of $646,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 466,314 shares of company stock valued at $51,024,652 in the last ninety days. Insiders own 0.52% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Vmware by 1,643.8% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after acquiring an additional 1,200 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Vmware during the first quarter valued at approximately $141,000. Enterprise Financial Services Corp increased its holdings in shares of Vmware by 3,975.6% during the third quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after acquiring an additional 1,630 shares in the last quarter. Cadence Capital Management LLC bought a new stake in shares of Vmware during the third quarter valued at approximately $204,000. Finally, Argent Trust Co bought a new stake in shares of Vmware during the third quarter valued at approximately $205,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.
Vmware Company Profile
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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