Traders Sell EMC Corp. (EMC) on Strength (EMC)
Investors sold shares of EMC Corp. (NYSE:EMC) on strength during trading hours on Tuesday. $54.77 million flowed into the stock on the tick-up and $148.92 million flowed out of the stock on the tick-down, for a money net flow of $94.15 million out of the stock. Of all stocks tracked, EMC Corp. had the 0th highest net out-flow for the day. EMC Corp. traded up $0.22 for the day and closed at $28.69
Several equities research analysts have recently weighed in on EMC shares. Zacks Investment Research raised EMC Corp. from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Tuesday, April 19th. Maxim Group increased their price target on EMC Corp. from $31.00 to $31.50 and gave the stock a “hold” rating in a report on Wednesday, April 20th. Deutsche Bank AG reaffirmed a “hold” rating and set a $27.00 price target (up from $26.00) on shares of EMC Corp. in a report on Thursday, April 21st. Brean Capital reaffirmed a “buy” rating on shares of EMC Corp. in a report on Thursday, April 21st. Finally, Drexel Hamilton reaffirmed a “buy” rating on shares of EMC Corp. in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.20.
The company has a market cap of $56.04 billion and a PE ratio of 27.91. The company has a 50-day moving average of $27.98 and a 200-day moving average of $26.85.
EMC Corp. (NYSE:EMC) last issued its quarterly earnings data on Monday, July 18th. The information technology service provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6 billion. The company’s revenue was up .3% on a year-over-year basis. On average, equities research analysts predict that EMC Corp. will post $1.85 earnings per share for the current fiscal year.
Other large investors have recently modified their holdings of the company. Cambria Investment Management L.P. purchased a new stake in shares of EMC Corp. during the fourth quarter worth about $1,212,000. Tradition Capital Management LLC boosted its stake in shares of EMC Corp. by 0.6% in the fourth quarter. Tradition Capital Management LLC now owns 87,650 shares of the information technology service provider’s stock worth $2,250,000 after buying an additional 500 shares in the last quarter. Calvert Investment Management Inc. boosted its stake in shares of EMC Corp. by 39.8% in the fourth quarter. Calvert Investment Management Inc. now owns 95,497 shares of the information technology service provider’s stock worth $2,452,000 after buying an additional 27,186 shares in the last quarter. Napier Park Global Capital US LP purchased a new stake in shares of EMC Corp. during the fourth quarter worth about $2,568,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of EMC Corp. by 272.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,900 shares of the information technology service provider’s stock worth $2,668,000 after buying an additional 76,000 shares in the last quarter.
EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream.
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