EMC Corp. (EMC) Sees Unusually-High Trading Volume
Shares of EMC Corp. (NYSE:EMC) saw strong trading volume on Tuesday . 11,972,064 shares changed hands during trading, an increase of 9% from the previous session’s volume of 10,962,424 shares.The stock last traded at $28.63 and had previously closed at $28.47.
A number of research analysts have commented on the company. Sanford C. Bernstein lowered EMC Corp. from an “outperform” rating to a “market perform” rating and set a $28.00 price target for the company. in a research report on Friday, July 29th. Citigroup Inc. assumed coverage on EMC Corp. in a research report on Tuesday, July 26th. They set a “neutral” rating and a $32.09 price target for the company. Drexel Hamilton reaffirmed a “buy” rating on shares of EMC Corp. in a research report on Sunday, July 24th. Argus reaffirmed a “hold” rating on shares of EMC Corp. in a research report on Friday, July 22nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $29.00 price target (up previously from $28.00) on shares of EMC Corp. in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and eleven have given a buy rating to the company. EMC Corp. has an average rating of “Hold” and a consensus target price of $30.20.
The firm’s 50-day moving average price is $28.02 and its 200 day moving average price is $26.87. The stock has a market capitalization of $55.72 billion and a PE ratio of 27.75.
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 for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The firm earned $6 billion during the quarter, compared to analyst estimates of $6 billion. The company’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. Equities research analysts forecast that EMC Corp. will post $1.85 EPS for the current year.
Several hedge funds and institutional investors have recently modified their holdings of EMC. Cambria Investment Management L.P. purchased a new position in shares of EMC Corp. during the fourth quarter worth $1,212,000. Calvert Investment Management Inc. increased its position 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 during the period. Napier Park Global Capital US LP purchased a new position in shares of EMC Corp. during the fourth quarter worth $2,568,000. Connor Clark & Lunn Investment Management Ltd. increased its position 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 during the period. Finally, Central Square Management LLC purchased a new position in shares of EMC Corp. during the fourth quarter worth $2,990,000.
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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