Sterling Capital Management LLC trimmed its holdings in Red Hat Inc (NYSE:RHT) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 560,077 shares of the open-source software company’s stock after selling 4,100 shares during the quarter. Sterling Capital Management LLC owned 0.31% of Red Hat worth $62,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wisconsin Investment Board lifted its holdings in shares of Red Hat by 22.4% in the 3rd quarter. State of Wisconsin Investment Board now owns 264,085 shares of the open-source software company’s stock worth $29,276,000 after acquiring an additional 48,339 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Red Hat by 9.2% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 629,475 shares of the open-source software company’s stock valued at $69,784,000 after buying an additional 53,269 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in Red Hat by 38.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 174,899 shares of the open-source software company’s stock valued at $19,201,000 after buying an additional 48,695 shares during the last quarter. American Century Companies Inc. raised its holdings in Red Hat by 6,697.1% during the 3rd quarter. American Century Companies Inc. now owns 953,634 shares of the open-source software company’s stock valued at $105,720,000 after buying an additional 939,604 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in Red Hat by 1,271.7% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 494,347 shares of the open-source software company’s stock valued at $35,890,000 after buying an additional 458,307 shares during the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

A number of research firms recently commented on RHT. J P Morgan Chase & Co reiterated an “overweight” rating and set a $117.00 price target (up from $110.00) on shares of Red Hat in a report on Tuesday, September 26th. Drexel Hamilton reiterated a “buy” rating and set a $127.00 price target on shares of Red Hat in a report on Tuesday, September 19th. KeyCorp reiterated an “overweight” rating and set a $125.00 price target (up from $121.00) on shares of Red Hat in a report on Tuesday, September 26th. Sanford C. Bernstein reiterated a “market perform” rating and set a $136.00 price target (up from $115.00) on shares of Red Hat in a report on Tuesday, September 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $98.00 price target (down from $120.00) on shares of Red Hat in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $113.55.

Shares of Red Hat Inc (NYSE RHT) traded down $0.87 during trading on Wednesday, reaching $125.75. 1,202,500 shares of the company’s stock were exchanged, compared to its average volume of 1,653,925. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. The stock has a market cap of $22,574.83, a P/E ratio of 69.57, a P/E/G ratio of 4.02 and a beta of 1.19. Red Hat Inc has a fifty-two week low of $68.54 and a fifty-two week high of $129.61.

Red Hat (NYSE:RHT) last issued its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. The business had revenue of $723.60 million for the quarter, compared to the consensus estimate of $699.56 million. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. sell-side analysts expect that Red Hat Inc will post 2 EPS for the current fiscal year.

In other news, Director William S. Kaiser sold 14,000 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $114.79, for a total value of $1,607,060.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael A. Kelly sold 2,888 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $121.03, for a total transaction of $349,534.64. Following the completion of the sale, the insider now directly owns 8,751 shares in the company, valued at $1,059,133.53. The disclosure for this sale can be found here. Insiders sold a total of 34,172 shares of company stock worth $3,926,377 over the last ninety days. Insiders own 0.66% of the company’s stock.

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Red Hat Profile

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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