Morgan Stanley reiterated their overweight rating on shares of Vmware, Inc. (NYSE:VMW) in a research note issued to investors on Friday. Morgan Stanley currently has a $115.00 target price on the virtualization software provider’s stock, up from their prior target price of $107.00.

A number of other brokerages have also recently issued reports on VMW. BMO Capital Markets raised their target price on Vmware from $105.00 to $110.00 and gave the stock a market perform rating in a report on Tuesday, August 15th. Jefferies Group LLC restated a buy rating and set a $110.00 target price (up previously from $105.00) on shares of Vmware in a report on Saturday, June 3rd. Deutsche Bank AG raised their target price on Vmware from $100.00 to $110.00 and gave the stock a hold rating in a report on Tuesday, August 15th. MKM Partners restated a buy rating and set a $110.00 target price (up previously from $100.00) on shares of Vmware in a report on Thursday, June 1st. Finally, Barclays PLC upgraded Vmware to a hold rating and set a $100.00 target price on the stock in a report on Monday, June 5th. Sixteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $105.12.

Vmware (NYSE VMW) opened at 102.74 on Friday. The stock has a market capitalization of $42.09 billion, a P/E ratio of 36.98 and a beta of 0.77. Vmware has a 12-month low of $71.81 and a 12-month high of $104.81. The firm’s 50-day moving average is $93.36 and its 200 day moving average is $91.99.

Vmware (NYSE:VMW) last issued its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. Vmware had a return on equity of 18.34% and a net margin of 17.81%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts anticipate that Vmware will post $5.01 earnings per share for the current year.

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Vmware declared that its board has authorized a share repurchase program on Monday, August 14th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

In related news, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the business’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 value of $1,063,694.42. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. increased its stake in Vmware by 8.4% in the first quarter. Capstone Asset Management Co. now owns 3,739 shares of the virtualization software provider’s stock valued at $345,000 after buying an additional 290 shares during the period. Fox Run Management L.L.C. purchased a new stake in Vmware during the first quarter valued at about $304,000. Fisher Asset Management LLC purchased a new stake in Vmware during the first quarter valued at about $338,000. Acadian Asset Management LLC increased its stake in Vmware by 10.9% in the first quarter. Acadian Asset Management LLC now owns 37,818 shares of the virtualization software provider’s stock valued at $3,486,000 after buying an additional 3,708 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in Vmware by 177.6% in the first quarter. Glen Harbor Capital Management LLC now owns 29,986 shares of the virtualization software provider’s stock valued at $2,763,000 after buying an additional 19,184 shares during the period. Institutional investors and hedge funds own 21.80% of the company’s stock.

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).

Analyst Recommendations for Vmware (NYSE:VMW)

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