Investec Asset Management North America Inc. lessened its holdings in Vmware, Inc. (NYSE:VMW) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,881 shares of the virtualization software provider’s stock after selling 2,630 shares during the period. Vmware accounts for about 2.1% of Investec Asset Management North America Inc.’s investment portfolio, making the stock its 24th biggest holding. Investec Asset Management North America Inc.’s holdings in Vmware were worth $11,181,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in VMW. Boston Partners acquired a new stake in shares of Vmware in the 1st quarter valued at $645,000. US Bancorp DE lifted its stake in shares of Vmware by 239.2% in the 1st quarter. US Bancorp DE now owns 5,359 shares of the virtualization software provider’s stock valued at $493,000 after purchasing an additional 3,779 shares during the last quarter. Comerica Bank lifted its stake in shares of Vmware by 628.8% in the 1st quarter. Comerica Bank now owns 35,130 shares of the virtualization software provider’s stock valued at $3,311,000 after purchasing an additional 30,310 shares during the last quarter. World Asset Management Inc lifted its stake in shares of Vmware by 8.5% in the 1st quarter. World Asset Management Inc now owns 2,918 shares of the virtualization software provider’s stock valued at $269,000 after purchasing an additional 228 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Vmware by 3.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 724,831 shares of the virtualization software provider’s stock valued at $66,786,000 after purchasing an additional 24,541 shares during the last quarter. 21.81% of the stock is owned by institutional investors and hedge funds.
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In related news, CFO Zane Rowe sold 6,000 shares of Vmware stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.82, for a total transaction of $646,920.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Rajiv Ramaswami sold 20,457 shares of Vmware stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 313,721 shares in the company, valued at $27,557,252.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,342 shares of company stock worth $4,045,490. Insiders own 0.52% of the company’s stock.
Shares of Vmware, Inc. (VMW) traded down 0.45% during mid-day trading on Friday, reaching $110.25. 1,257,925 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 stock has a market cap of $45.09 billion, a PE ratio of 39.69 and a beta of 0.74. The firm has a 50 day moving average price of $100.28 and a 200-day moving average price of $93.70.
Vmware (NYSE:VMW) last released its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Vmware, Inc. will post $5.06 earnings per share for the current fiscal year.
Vmware announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of research analysts have weighed in on VMW shares. Berenberg Bank reissued a “hold” rating and set a $94.00 target price on shares of Vmware in a research report on Tuesday, August 29th. Bank of America Corporation raised shares of Vmware from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $108.00 to $120.00 in a research report on Friday, August 25th. Stifel Nicolaus raised shares of Vmware from a “hold” rating to a “buy” rating and boosted their target price for the stock from $96.00 to $109.00 in a research report on Wednesday, June 21st. Royal Bank Of Canada boosted their target price on shares of Vmware from $97.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. Finally, Maxim Group reissued a “hold” rating and set a $105.00 target price on shares of Vmware in a research report on Friday, August 25th. Thirteen equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Vmware has an average rating of “Buy” and an average target price of $112.00.
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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