Vmware, Inc. (NYSE:VMW) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $121.83 and last traded at $121.69, with a volume of 546196 shares changing hands. The stock had previously closed at $120.97.

VMW has been the subject of a number of research reports. Berenberg Bank reissued a “hold” rating and set a $94.00 price target on shares of Vmware in a research report on Tuesday, August 29th. Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a research report on Wednesday, October 25th. Stifel Nicolaus reissued a “buy” rating and set a $118.00 price target (up previously from $109.00) on shares of Vmware in a research report on Friday, August 25th. BMO Capital Markets boosted their price target on Vmware from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Tuesday, August 15th. Finally, MKM Partners reissued a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Vmware in a research report on Monday, August 28th. Fifteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $115.35.

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $49,810.00, a PE ratio of 33.96, a price-to-earnings-growth ratio of 2.76 and a beta of 0.67.

Vmware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. analysts forecast that Vmware, Inc. will post 3.79 earnings per share for the current fiscal year.

Vmware announced that its Board of Directors has authorized a share repurchase program on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

In related news, Director Egon Durban sold 435,682 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider P. Kevan Krysler sold 13,751 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $107.69, for a total value of $1,480,845.19. The disclosure for this sale can be found here. Insiders have sold a total of 466,314 shares of company stock worth $51,024,652 over the last quarter. Insiders own 0.52% of the company’s stock.

A number of hedge funds have recently modified their holdings of VMW. Bronfman E.L. Rothschild L.P. grew its holdings in Vmware by 1,643.8% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock worth $139,000 after buying an additional 1,200 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Vmware in the 1st quarter worth approximately $141,000. Penserra Capital Management LLC grew its holdings in Vmware by 13.0% in the 2nd quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after buying an additional 240 shares in the last quarter. Enterprise Financial Services Corp grew its holdings in Vmware by 3,975.6% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock worth $182,000 after buying an additional 1,630 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in Vmware in the 2nd quarter worth approximately $191,000. 22.27% of the stock is owned by institutional investors and hedge funds.

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About Vmware

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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