Smithfield Trust Co. held its position in Vmware, Inc. (NYSE:VMW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,886 shares of the virtualization software provider’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in Vmware were worth $165,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in VMW. Capstone Asset Management Co. increased its position in Vmware by 2.4% in the second quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock valued at $335,000 after buying an additional 90 shares during the period. Gulf International Bank UK Ltd increased its position in Vmware by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 24,556 shares of the virtualization software provider’s stock valued at $2,262,000 after buying an additional 115 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in Vmware by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,578 shares of the virtualization software provider’s stock valued at $514,000 after buying an additional 128 shares during the period. CAPROCK Group Inc. increased its position in Vmware by 4.6% in the first quarter. CAPROCK Group Inc. now owns 3,094 shares of the virtualization software provider’s stock valued at $285,000 after buying an additional 135 shares during the period. Finally, Penserra Capital Management LLC increased its position in Vmware by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock valued at $169,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 21.82% of the company’s stock.
Shares of Vmware, Inc. (NYSE:VMW) traded up 0.52% during trading on Friday, hitting $96.27. The company had a trading volume of 770,989 shares. Vmware, Inc. has a 12-month low of $71.81 and a 12-month high of $98.20. The stock has a market cap of $39.32 billion, a PE ratio of 34.65 and a beta of 0.77. The firm has a 50 day moving average of $91.66 and a 200 day moving average of $91.57.
Vmware (NYSE:VMW) last issued its quarterly earnings data on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. Vmware had a net margin of 17.36% and a return on equity of 17.19%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. On average, analysts forecast that Vmware, Inc. will post $5.01 earnings per share for the current fiscal year.
Vmware announced that its Board of Directors has initiated a stock buyback program on Monday, August 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
VMW has been the topic of a number of research reports. Cowen and Company raised their price objective on Vmware from $92.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, May 25th. Zacks Investment Research downgraded Vmware from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Robert W. Baird upgraded Vmware from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $90.00 to $115.00 in a report on Wednesday, May 31st. Royal Bank Of Canada increased their target price on Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $95.00 target price on shares of Vmware in a research note on Thursday, June 1st. Eighteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Vmware currently has an average rating of “Buy” and a consensus price target of $101.12.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the completion of the sale, the chief operating officer now directly owns 313,721 shares in the company, valued at $27,557,252.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $94.66, for a total transaction of $1,063,694.42. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.
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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