106,656 Shares in Symantec Corporation (SYMC) Purchased by Crawford Lake Capital Management LLC
Crawford Lake Capital Management LLC purchased a new position in Symantec Corporation (NASDAQ:SYMC) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 106,656 shares of the technology company’s stock, valued at approximately $3,499,000. Symantec accounts for 1.3% of Crawford Lake Capital Management LLC’s portfolio, making the stock its 27th largest holding.
Several other large investors also recently modified their holdings of SYMC. Capital Research Global Investors lifted its stake in Symantec by 1,784.9% during the second quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock valued at $404,140,000 after purchasing an additional 13,546,895 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Symantec by 10,624.9% during the second quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock valued at $270,583,000 after purchasing an additional 9,488,859 shares during the last quarter. CI Global Investments Inc. acquired a new stake in Symantec during the second quarter valued at approximately $186,563,000. Renaissance Technologies LLC lifted its stake in Symantec by 405.7% during the second quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock valued at $137,234,000 after purchasing an additional 3,897,200 shares during the last quarter. Finally, Capital World Investors lifted its stake in Symantec by 3.7% during the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock valued at $2,141,896,000 after purchasing an additional 2,695,567 shares during the last quarter. 95.02% of the stock is owned by institutional investors.
Several research firms recently commented on SYMC. Barclays reissued an “overweight” rating and set a $36.00 target price (down from $38.00) on shares of Symantec in a research note on Wednesday, August 9th. Piper Jaffray Companies set a $40.00 target price on shares of Symantec and gave the company a “buy” rating in a research note on Sunday, October 15th. BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research lowered shares of Symantec from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price on shares of Symantec in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $32.39.
Shares of Symantec Corporation (SYMC) opened at $27.44 on Wednesday. Symantec Corporation has a 1-year low of $23.77 and a 1-year high of $34.20. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72. The stock has a market cap of $17,204.50, a P/E ratio of 44.05, a PEG ratio of 2.80 and a beta of 1.08.
Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. analysts forecast that Symantec Corporation will post 1.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.09%. Symantec’s dividend payout ratio is presently -75.00%.
In other Symantec news, CFO Nicholas R. Noviello sold 7,688 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total value of $230,640.00. Following the transaction, the chief financial officer now owns 190,319 shares in the company, valued at approximately $5,709,570. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total transaction of $27,810.00. Following the completion of the transaction, the senior vice president now owns 112,907 shares in the company, valued at approximately $3,387,210. The disclosure for this sale can be found here. In the last quarter, insiders sold 418,344 shares of company stock worth $12,420,962. Company insiders own 1.30% of the company’s stock.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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