Vmware, Inc. (VMW) Reaches New 12-Month High at $121.83
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.
COPYRIGHT VIOLATION NOTICE: “Vmware, Inc. (VMW) Reaches New 12-Month High at $121.83” was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/vmware-inc-vmw-reaches-new-12-month-high-at-121-83/1693701.html.
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).
Receive News & Ratings for Vmware Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vmware Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.