Captrust Financial Advisors Purchases New Stake in Vmware, Inc. (VMW)
Captrust Financial Advisors purchased a new position in shares of Vmware, Inc. (NYSE:VMW) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,900 shares of the virtualization software provider’s stock, valued at approximately $254,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Partners bought a new stake in shares of Vmware in the 1st quarter worth approximately $645,000. US Bancorp DE grew its position 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 worth $493,000 after buying an additional 3,779 shares during the last quarter. Comerica Bank grew its position 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 worth $3,311,000 after buying an additional 30,310 shares during the last quarter. World Asset Management Inc grew its position 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 worth $269,000 after buying an additional 228 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position 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 worth $66,786,000 after buying an additional 24,541 shares during the last quarter. Institutional investors and hedge funds own 21.81% of the company’s stock.
In related news, CFO Zane Rowe sold 6,000 shares of Vmware stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $107.82, for a total value of $646,920.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Sanjay Poonen sold 1,134 shares of Vmware stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $106.51, for a total value of $120,782.34. Following the completion of the sale, the chief operating officer now owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Insiders have sold a total of 41,342 shares of company stock worth $4,045,490 over the last 90 days. Insiders own 0.52% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Barclays PLC upgraded Vmware from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $109.00 to $130.00 in a research report on Thursday. Bank of America Corporation reiterated a “buy” rating and issued a $125.00 price objective (up from $120.00) on shares of Vmware in a research report on Thursday. KeyCorp reiterated a “sector weight” rating on shares of Vmware in a research report on Friday, September 1st. Robert W. Baird restated a “buy” rating and issued a $125.00 target price on shares of Vmware in a research note on Tuesday. Finally, Zacks Investment Research upgraded Vmware from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, September 4th. Thirteen investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Vmware currently has a consensus rating of “Buy” and a consensus target price of $112.00.
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Vmware, Inc. (NYSE:VMW) opened at 110.25 on Friday. The company has a market cap of $45.09 billion, a price-to-earnings ratio of 39.69 and a beta of 0.74. The stock has a 50 day moving average price of $100.28 and a 200-day moving average price of $93.70. Vmware, Inc. has a 1-year low of $72.05 and a 1-year high of $111.61.
Vmware (NYSE:VMW) last posted its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 12.2% on a year-over-year basis. On average, equities research analysts forecast that Vmware, Inc. will post $5.06 EPS for the current year.
Vmware announced that its board has initiated a stock buyback program on Monday, August 14th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Vmware Company Profile
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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