Micro Focus International (NYSE:MFGP) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Micro Focus International (NYSE:MFGP) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $7.75 price objective on the stock.

According to Zacks, “Micro Focus International plc is an infrastructure software company which develops, sells and supports software products and solutions. The Company’s products include Access Manager, Access Review, AccuRev, AccuSync, Acu4GL, AcuBench, ACUCOBOL-GT, AcuConnect, AcuServer, AcuSQL, AcuXDBC, Aegis, AppManager, Artix, Atlas, Business Continuity Clustering, Caliber, Client for Windows, Cloud Manager and CloudAccess. It principally serves federal, airlines and healthcare industries. The company operates primarily in the United Kingdom, the United States, Germany, France, Japan and internationally. Micro Focus International plc is headquartered in Newbury, the United Kingdom. “

Shares of Micro Focus International stock opened at $7.22 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.49. The stock has a 50 day moving average of $7.07. The stock has a market cap of $2.42 billion, a PE ratio of 4.69 and a beta of 2.52. Micro Focus International has a one year low of $2.78 and a one year high of $8.19.

A number of institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. purchased a new position in shares of Micro Focus International during the first quarter valued at approximately $24,466,000. Renaissance Technologies LLC increased its stake in shares of Micro Focus International by 96.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,438,965 shares of the company’s stock valued at $8,216,000 after buying an additional 706,700 shares during the period. Ingalls & Snyder LLC increased its stake in shares of Micro Focus International by 4.3% during the first quarter. Ingalls & Snyder LLC now owns 418,896 shares of the company’s stock valued at $3,217,000 after buying an additional 17,436 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Micro Focus International by 2,199.8% during the first quarter. JPMorgan Chase & Co. now owns 181,961 shares of the company’s stock valued at $1,398,000 after buying an additional 174,049 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Micro Focus International during the first quarter valued at approximately $554,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Micro Focus International Company Profile

Micro Focus International plc engages in the enterprise software business in the United Kingdom, the United States, Germany, Canada, France, Japan, and internationally. The company offers infrastructure software products that are managed on a portfolio. Its product portfolio includes application modernization and connectivity, application delivery management, IT operations management, security and information management, and governance.

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Analyst Recommendations for Micro Focus International (NYSE:MFGP)

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