Symantec Corporation (SYMC) Position Boosted by Palisade Capital Management LLC NJ
Palisade Capital Management LLC NJ boosted its holdings in shares of Symantec Corporation (NASDAQ:SYMC) by 378.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,816 shares of the technology company’s stock after acquiring an additional 180,182 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Symantec Corporation were worth $7,475,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares during the period. Sun Life Financial INC raised its position in Symantec Corporation by 44,100.0% during the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after purchasing an additional 4,410 shares in the last quarter. Harfst & Associates Inc. bought a new stake in Symantec Corporation during the 2nd quarter valued at $127,000. Johnson Financial Group Inc. raised its position in Symantec Corporation by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after purchasing an additional 325 shares in the last quarter. Finally, United Bank Inc. bought a new stake in Symantec Corporation during the 3rd quarter valued at $200,000. Institutional investors own 91.41% of the company’s stock.
In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $32.81, for a total transaction of $82,025.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory S. Clark sold 186,433 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $30.00, for a total value of $5,592,990.00. Following the sale, the chief executive officer now owns 1,321,671 shares in the company, valued at approximately $39,650,130. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,645,816 shares of company stock worth $47,911,129. Company insiders own 1.30% of the company’s stock.
Symantec Corporation (NASDAQ:SYMC) opened at $29.88 on Friday. The stock has a market cap of $18,359.38, a PE ratio of 47.42, a PEG ratio of 2.25 and a beta of 1.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.02.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. The firm’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. research analysts predict that Symantec Corporation will post 1.14 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.00%. Symantec Corporation’s payout ratio is presently -75.00%.
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SYMC has been the subject of a number of research analyst reports. Evercore ISI set a $25.00 target price on Symantec Corporation and gave the company a “hold” rating in a research report on Thursday, August 3rd. CIBC reaffirmed an “outperform” rating and set a $33.00 target price (down from $35.00) on shares of Symantec Corporation in a research report on Thursday. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 target price on shares of Symantec Corporation in a research report on Friday. Finally, Credit Suisse Group initiated coverage on Symantec Corporation in a research report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 target price for the company. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.79.
About Symantec Corporation
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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