International Business Machines Corp. (NYSE:IBM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “IBM reported strong third-quarter 2016 results beating the Zacks Consensus Estimates on both lines. However, the company is having a tough time, given the ongoing and heavily time-consuming business model transition to cloud. Further, sluggish IT spending particularly on on-premise and data center hardware and foreign exchange volatility remain concerns. Moreover, intensifying competition in the cloud is a major headwind. Nevertheless, IBM's strategic growth initiatives, including its Big Data & business analytics, cloud computing, mobile and social business are expected to drive growth. In addition, the company’s policy of making strategic acquisitions will lead to incremental revenues, strengthening its technology leadership and resulting in a more favorable mix of business. The acquisitions have also increased its scale of operations globally.”

IBM has been the subject of a number of other research reports. Societe Generale raised International Business Machines Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $147.00 price objective on shares of International Business Machines Corp. in a report on Wednesday, October 12th. Vetr raised International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 price objective for the company in a report on Monday, August 29th. JMP Securities reissued a “buy” rating and issued a $157.00 price objective on shares of International Business Machines Corp. in a report on Thursday, June 23rd. Finally, Credit Suisse Group AG reissued an “underperform” rating and issued a $110.00 price objective on shares of International Business Machines Corp. in a report on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $154.26.

Analyst Recommendations for International Business Machines Corp. (NYSE:IBM)

International Business Machines Corp. (NYSE:IBM) opened at 150.72 on Wednesday. The firm has a 50-day moving average price of $156.49 and a 200-day moving average price of $154.34. International Business Machines Corp. has a 12-month low of $116.90 and a 12-month high of $165.00. The company has a market cap of $144.06 billion, a P/E ratio of 12.26 and a beta of 0.88.

International Business Machines Corp. (NYSE:IBM) last issued its quarterly earnings results on Monday, October 17th. The technology company reported $3.29 EPS for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.05. International Business Machines Corp. had a return on equity of 85.64% and a net margin of 14.75%. The company earned $19.23 billion during the quarter, compared to analysts’ expectations of $19 billion. During the same quarter in the previous year, the firm posted $3.34 EPS. The firm’s revenue was down .3% compared to the same quarter last year. On average, analysts forecast that International Business Machines Corp. will post $13.51 earnings per share for the current fiscal year.

In other International Business Machines Corp. news, insider Robert J. Picciano sold 1,922 shares of the company’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total transaction of $305,905.52. Following the transaction, the insider now directly owns 35,861 shares in the company, valued at $5,707,636.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert J. Leblanc sold 15,708 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $162.25, for a total value of $2,548,623.00. Following the transaction, the insider now owns 61,374 shares in the company, valued at $9,957,931.50. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torray LLC boosted its position in International Business Machines Corp. by 0.7% in the first quarter. Torray LLC now owns 90,266 shares of the technology company’s stock worth $13,671,000 after buying an additional 605 shares during the period. MCF Advisors LLC boosted its position in International Business Machines Corp. by 54.7% in the first quarter. MCF Advisors LLC now owns 1,892 shares of the technology company’s stock worth $287,000 after buying an additional 669 shares during the period. Brick & Kyle Associates boosted its position in International Business Machines Corp. by 19.6% in the first quarter. Brick & Kyle Associates now owns 2,444 shares of the technology company’s stock worth $370,000 after buying an additional 400 shares during the period. Roberts Glore & Co. Inc. IL boosted its position in International Business Machines Corp. by 1.3% in the first quarter. Roberts Glore & Co. Inc. IL now owns 2,194 shares of the technology company’s stock worth $332,000 after buying an additional 28 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of International Business Machines Corp. by 480.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,035,805 shares of the technology company’s stock valued at $156,873,000 after buying an additional 857,486 shares during the last quarter. Institutional investors own 57.63% of the company’s stock.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

5 Day Chart for NYSE:IBM

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