Pitcairn Co. cut its position in shares of EMC Corp. (NYSE:EMC) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 27,429 shares of the information technology service provider’s stock after selling 122 shares during the period. Pitcairn Co.’s holdings in EMC Corp. were worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Financial Architects Inc boosted its stake in EMC Corp. by 769.2% in the second quarter. Financial Architects Inc now owns 3,842 shares of the information technology service provider’s stock worth $105,000 after buying an additional 3,400 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of EMC Corp. by 121.1% in the second quarter. NEXT Financial Group Inc now owns 4,564 shares of the information technology service provider’s stock valued at $124,000 after buying an additional 2,500 shares during the last quarter. Hall Laurie J Trustee raised its position in shares of EMC Corp. by 5.1% in the second quarter. Hall Laurie J Trustee now owns 5,560 shares of the information technology service provider’s stock valued at $153,000 after buying an additional 270 shares during the last quarter. Williams Jones & Associates LLC purchased a new position in shares of EMC Corp. during the first quarter valued at about $154,000. Finally, Carroll Financial Associates Inc. raised its position in shares of EMC Corp. by 5.9% in the second quarter. Carroll Financial Associates Inc. now owns 6,119 shares of the information technology service provider’s stock valued at $166,000 after buying an additional 340 shares during the last quarter. Institutional investors own 79.86% of the company’s stock.

Shares of EMC Corp. (NYSE:EMC) remained flat at $29.05 during mid-day trading on Thursday. The company has a 50 day moving average of $28.53 and a 200 day moving average of $27.32. EMC Corp. has a 12 month low of $22.99 and a 12 month high of $29.00.

EMC Corp. (NYSE:EMC) last posted its quarterly earnings data on Monday, July 18th. The information technology service provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The business earned $6 billion during the quarter, compared to analysts’ expectations of $6 billion. EMC Corp. had a net margin of 8.55% and a return on equity of 11.98%. The business’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts predict that EMC Corp. will post $1.84 earnings per share for the current fiscal year.

EMC has been the topic of several research reports. Longbow Research lowered EMC Corp. from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Friday, May 27th. Morgan Stanley lowered EMC Corp. from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $69.00 to $60.00 in a report on Wednesday, June 1st. Sterne Agee CRT lowered EMC Corp. from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $27.95 to $28.00 in a report on Thursday, June 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered EMC Corp. from a “buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, Mizuho lowered EMC Corp. from a “buy” rating to a “neutral” rating and set a $29.50 price objective on the stock. in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. EMC Corp. currently has an average rating of “Hold” and a consensus target price of $30.26.

EMC Corp. Company Profile

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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