VMware (NYSE:VMW) had its target price lifted by equities researchers at Royal Bank of Canada to $150.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the virtualization software provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 10.60% from the company’s previous close. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the stock. Robert W. Baird restated a “buy” rating and set a $125.00 price target on shares of VMware in a report on Wednesday, October 4th. Drexel Hamilton restated a “buy” rating and set a $120.00 price target on shares of VMware in a report on Thursday, November 30th. Zacks Investment Research upgraded shares of VMware from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, September 26th. Mizuho reaffirmed a “hold” rating and issued a $110.00 price objective on shares of VMware in a research report on Thursday, November 30th. Finally, Gabelli lowered shares of VMware from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. VMware presently has an average rating of “Buy” and a consensus target price of $126.20.

VMware (NYSE:VMW) opened at $135.63 on Wednesday. VMware has a twelve month low of $81.26 and a twelve month high of $136.19. The firm has a market cap of $54,680.00, a PE ratio of 38.75, a P/E/G ratio of 3.04 and a beta of 0.67. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.51.

VMware (NYSE:VMW) last released its quarterly earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. VMware had a net margin of 18.97% and a return on equity of 18.57%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. analysts predict that VMware will post 3.77 EPS for the current year.

In other news, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total value of $47,624,399.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Sanjay Poonen sold 2,764 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $118.50, for a total transaction of $327,534.00. Following the completion of the sale, the chief operating officer now directly owns 189,391 shares in the company, valued at approximately $22,442,833.50. The disclosure for this sale can be found here. In the last three months, insiders sold 484,155 shares of company stock worth $53,551,032. Insiders own 34.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VMW. Bronfman E.L. Rothschild L.P. raised its position in shares of VMware by 1,643.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after purchasing an additional 1,200 shares during the period. Enterprise Financial Services Corp raised its position in shares of VMware by 3,975.6% in the third quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after purchasing an additional 1,630 shares during the period. BlueMountain Capital Management LLC bought a new stake in shares of VMware in the second quarter valued at approximately $191,000. Cadence Capital Management LLC bought a new stake in shares of VMware in the third quarter valued at approximately $204,000. Finally, Argent Trust Co bought a new stake in shares of VMware in the third quarter valued at approximately $205,000. 22.53% of the stock is currently owned by institutional investors.

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VMware Company Profile

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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