Vmware, Inc. (NYSE:VMW)‘s stock had its “market perform” rating restated by BMO Capital Markets in a report released on Friday, August 25th. They presently have a $114.00 price target on the virtualization software provider’s stock, up from their prior price target of $110.00. BMO Capital Markets’ price objective would suggest a potential upside of 4.01% from the company’s previous close.
A number of other brokerages also recently commented on VMW. Jefferies Group LLC reiterated a “buy” rating and issued a $110.00 target price (up from $105.00) on shares of Vmware in a report on Saturday, June 3rd. Deutsche Bank AG boosted their target price on shares of Vmware from $100.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 15th. Morgan Stanley reiterated an “overweight” rating and issued a $107.00 target price (up from $100.00) on shares of Vmware in a report on Saturday, June 3rd. MKM Partners reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Vmware in a report on Thursday, June 1st. Finally, Barclays PLC upgraded shares of Vmware to a “hold” rating and set a $100.00 target price for the company in a report on Monday, June 5th. Fourteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $109.88.
Shares of Vmware (NYSE VMW) opened at 109.60 on Friday. The firm has a 50-day moving average of $98.22 and a 200-day moving average of $93.18. Vmware has a 12 month low of $72.05 and a 12 month high of $109.67. The firm has a market cap of $44.90 billion, a price-to-earnings ratio of 39.45 and a beta of 0.74.
Vmware (NYSE:VMW) last released its quarterly earnings data on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Vmware will post $5.06 EPS for the current year.
Vmware declared that its Board of Directors has approved a share repurchase plan on Monday, August 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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In related news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $107.82, for a total transaction of $646,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $87.84, for a total value of $1,796,942.88. Following the transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The disclosure for this sale can be found here. Insiders have sold a total of 41,342 shares of company stock valued at $4,045,490 over the last 90 days. 0.52% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. USA Financial Portformulas Corp boosted its stake in shares of Vmware by 3.5% in the 2nd quarter. USA Financial Portformulas Corp now owns 6,000 shares of the virtualization software provider’s stock valued at $525,000 after buying an additional 202 shares during the period. Oak Associates Ltd. OH boosted its stake in shares of Vmware by 16.2% in the 2nd quarter. Oak Associates Ltd. OH now owns 151,800 shares of the virtualization software provider’s stock valued at $13,272,000 after buying an additional 21,200 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Vmware in the 2nd quarter valued at about $1,121,000. Bangor Savings Bank boosted its stake in shares of Vmware by 31.5% in the 2nd quarter. Bangor Savings Bank now owns 12,517 shares of the virtualization software provider’s stock valued at $1,094,000 after buying an additional 3,000 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Vmware in the 2nd quarter valued at about $1,184,000. Institutional investors and hedge funds own 21.81% of the company’s stock.
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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