Vmware, Inc. (NYSE:VMW) – Equities research analysts at KeyCorp lifted their FY2018 earnings per share (EPS) estimates for shares of Vmware in a report issued on Monday. KeyCorp analyst B. Mcfadden now forecasts that the virtualization software provider will post earnings per share of $3.79 for the year, up from their prior forecast of $3.62.

Vmware (NYSE:VMW) last posted its quarterly earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Vmware had a net margin of 17.36% and a return on equity of 17.19%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. TRADEMARK VIOLATION WARNING: “KeyCorp Comments on Vmware, Inc.’s FY2018 Earnings (VMW)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/16/keycorp-comments-on-vmware-inc-s-fy2018-earnings-vmw.html.

VMW has been the topic of a number of other research reports. Stifel Nicolaus raised shares of Vmware from a “hold” rating to a “buy” rating and increased their price objective for the stock from $96.00 to $109.00 in a report on Wednesday, June 21st. Royal Bank Of Canada upped their target price on shares of Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. BTIG Research restated a “neutral” rating on shares of Vmware in a research report on Saturday, June 3rd. BidaskClub downgraded shares of Vmware from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Maxim Group restated a “hold” rating and set a $96.00 target price on shares of Vmware in a research report on Friday, June 2nd. Eighteen analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Vmware currently has a consensus rating of “Buy” and an average price target of $100.69.

Shares of Vmware (NYSE:VMW) traded up 1.71% on Wednesday, reaching $96.92. 764,597 shares of the company’s stock traded hands. The firm has a market capitalization of $39.58 billion, a price-to-earnings ratio of 34.89 and a beta of 0.77. The company has a 50 day moving average price of $91.01 and a 200 day moving average price of $91.43. Vmware has a 52 week low of $70.26 and a 52 week high of $98.20.

Large investors have recently made changes to their positions in the stock. Alps Advisors Inc. increased its stake in shares of Vmware by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,299 shares of the virtualization software provider’s stock valued at $463,000 after buying an additional 14 shares in the last quarter. Federated Investors Inc. PA increased its stake in Vmware by 0.4% in the second quarter. Federated Investors Inc. PA now owns 15,323 shares of the virtualization software provider’s stock worth $1,339,000 after buying an additional 66 shares in the last quarter. Capstone Asset Management Co. increased its stake 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 worth $335,000 after buying an additional 90 shares in the last quarter. Laurion Capital Management LP increased its stake in Vmware by 2.8% in the second quarter. Laurion Capital Management LP now owns 3,700 shares of the virtualization software provider’s stock worth $323,000 after buying an additional 100 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake 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 worth $2,262,000 after buying an additional 115 shares in the last quarter. 21.82% of the stock is owned by institutional investors and hedge funds.

In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was 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 owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maurizio Carli sold 11,237 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $94.66, for a total value 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 announced that its board has authorized a share buyback program on Monday, August 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the virtualization software provider to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

About Vmware

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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