State of Wisconsin Investment Board Has $33.92 Million Stake in Red Hat Inc (RHT)

State of Wisconsin Investment Board increased its stake in Red Hat Inc (NYSE:RHT) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 282,467 shares of the open-source software company’s stock after purchasing an additional 18,382 shares during the quarter. State of Wisconsin Investment Board’s holdings in Red Hat were worth $33,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Red Hat by 1.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,091 shares of the open-source software company’s stock valued at $3,334,000 after acquiring an additional 400 shares in the last quarter. Oakbrook Investments LLC raised its stake in Red Hat by 3.1% in the fourth quarter. Oakbrook Investments LLC now owns 14,205 shares of the open-source software company’s stock valued at $1,706,000 after buying an additional 430 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Red Hat by 3.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 17,048 shares of the open-source software company’s stock valued at $2,047,000 after buying an additional 500 shares in the last quarter. Amalgamated Bank raised its stake in Red Hat by 2.5% in the third quarter. Amalgamated Bank now owns 21,352 shares of the open-source software company’s stock valued at $2,367,000 after buying an additional 528 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Red Hat by 1.7% in the third quarter. Envestnet Asset Management Inc. now owns 32,760 shares of the open-source software company’s stock valued at $3,635,000 after buying an additional 539 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Shares of Red Hat Inc (NYSE RHT) opened at $142.71 on Monday. The firm has a market capitalization of $25,260.29, a P/E ratio of 73.56, a price-to-earnings-growth ratio of 4.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37. Red Hat Inc has a twelve month low of $80.93 and a twelve month high of $143.67.

Red Hat (NYSE:RHT) last announced its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The business had revenue of $747.98 million for the quarter, compared to analyst estimates of $734.69 million. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The company’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. equities research analysts forecast that Red Hat Inc will post 2.08 earnings per share for the current fiscal year.

In related news, CEO James M. Whitehurst sold 5,593 shares of Red Hat stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the transaction, the chief executive officer now directly owns 373,506 shares in the company, valued at approximately $46,639,694.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Delisa Alexander sold 1,393 shares of Red Hat stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $124.87, for a total value of $173,943.91. Following the transaction, the executive vice president now owns 36,420 shares of the company’s stock, valued at $4,547,765.40. The disclosure for this sale can be found here. Insiders have sold a total of 14,686 shares of company stock worth $1,873,342 in the last three months. Corporate insiders own 0.66% of the company’s stock.

RHT has been the topic of a number of analyst reports. Bank of America restated an “underperform” rating and issued a $115.00 price target on shares of Red Hat in a research note on Tuesday, October 24th. KeyCorp restated an “overweight” rating and issued a $135.00 price target (up from $125.00) on shares of Red Hat in a research note on Monday, December 4th. Zacks Investment Research upgraded Red Hat from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Tuesday, December 5th. Cowen restated a “buy” rating and issued a $136.00 price target on shares of Red Hat in a research note on Monday, December 11th. Finally, Mizuho raised their price target on Red Hat from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. Red Hat has an average rating of “Buy” and a consensus target price of $126.65.

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Red Hat Company Profile

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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