Investec Asset Management LTD increased its stake in Vmware, Inc. (NYSE:VMW) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,669,142 shares of the virtualization software provider’s stock after acquiring an additional 78,558 shares during the period. Vmware makes up approximately 1.1% of Investec Asset Management LTD’s investment portfolio, making the stock its 27th biggest position. Investec Asset Management LTD owned 0.65% of Vmware worth $233,363,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in Vmware in the first quarter worth about $141,000. Penserra Capital Management LLC grew its position in Vmware by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after acquiring an additional 240 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Vmware in the second quarter worth about $191,000. BB&T Securities LLC purchased a new position in Vmware in the first quarter worth about $209,000. Finally, Eagle Global Advisors LLC purchased a new position in Vmware in the second quarter worth about $203,000. Institutional investors own 21.82% of the company’s stock.
Several research firms recently commented on VMW. BMO Capital Markets lifted their price target on Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 15th. Citigroup Inc. raised their price objective on shares of Vmware from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Robert W. Baird reissued a “buy” rating and issued a $125.00 price objective on shares of Vmware in a research note on Tuesday, September 12th. Bank of America Corporation reissued a “buy” rating and issued a $125.00 price objective (up previously from $120.00) on shares of Vmware in a research note on Thursday. Finally, Mizuho raised their price objective on shares of Vmware from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, August 14th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Vmware has a consensus rating of “Buy” and an average target price of $112.00.
Vmware, Inc. (NYSE VMW) traded down 0.413% during trading on Monday, reaching $109.795. 157,884 shares of the company’s stock traded hands. Vmware, Inc. has a 12-month low of $72.05 and a 12-month high of $111.61. The company has a 50 day moving average price of $100.28 and a 200-day moving average price of $93.70. The company has a market cap of $44.90 billion, a PE ratio of 39.523 and a beta of 0.74.
Vmware (NYSE:VMW) last announced its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, beating 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 business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $0.97 EPS. The company’s revenue was up 12.2% on a year-over-year basis. On average, equities research analysts forecast that Vmware, Inc. will post $5.06 EPS for the current fiscal year.
Vmware announced that its Board of Directors has authorized a share buyback plan on Monday, August 14th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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In other news, COO Sanjay Poonen sold 1,134 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $106.51, for a total value of $120,782.34. Following the sale, the chief operating officer now directly owns 192,774 shares in the company, valued at approximately $20,532,358.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the sale, the chief operating officer now owns 313,721 shares in the company, valued at $27,557,252.64. The disclosure for this sale can be found here. Insiders sold a total of 41,342 shares of company stock worth $4,045,490 over the last 90 days. Company insiders own 0.52% of the company’s stock.
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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