State Board of Administration of Florida Retirement System increased its position in shares of Vmware, Inc. (NYSE:VMW) by 0.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 124,512 shares of the virtualization software provider’s stock after buying an additional 1,044 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Vmware were worth $10,886,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in VMW. Marshall Wace LLP bought a new position in shares of Vmware during the second quarter worth about $529,000. Hourglass Capital LLC acquired a new stake in Vmware during the second quarter valued at about $687,000. Marshall Wace North America L.P. acquired a new stake in Vmware during the second quarter valued at about $6,434,000. BB&T Securities LLC boosted its stake in Vmware by 47.9% in the second quarter. BB&T Securities LLC now owns 3,363 shares of the virtualization software provider’s stock valued at $294,000 after buying an additional 1,089 shares during the last quarter. Finally, Pegasus Partners Ltd. boosted its stake in Vmware by 2.8% in the second quarter. Pegasus Partners Ltd. now owns 9,620 shares of the virtualization software provider’s stock valued at $841,000 after buying an additional 265 shares during the last quarter. 21.80% of the stock is currently owned by hedge funds and other institutional investors.

Vmware, Inc. (NYSE VMW) opened at 106.96 on Thursday. The company has a 50-day moving average of $93.36 and a 200-day moving average of $91.99. Vmware, Inc. has a one year low of $71.81 and a one year high of $107.24. The stock has a market capitalization of $43.82 billion, a price-to-earnings ratio of 38.50 and a beta of 0.77.

Vmware (NYSE:VMW) last released its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.15 by $0.04. Vmware had a net margin of 17.81% and a return on equity of 18.34%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. Vmware’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Vmware, Inc. will post $5.06 EPS for the current fiscal year.

Vmware announced that its board has approved a stock repurchase plan on Monday, August 14th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the virtualization software provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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Several analysts recently issued reports on VMW shares. 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 research note on Tuesday, August 15th. Jefferies Group LLC reissued a “buy” rating and issued a $110.00 target price (up from $105.00) on shares of Vmware in a research note 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 research note on Tuesday, August 15th. MKM Partners reissued a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Vmware in a research note on Thursday, June 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $107.00 target price (up from $100.00) on shares of Vmware in a research note on Saturday, June 3rd. Sixteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Vmware currently has a consensus rating of “Buy” and an average price target of $106.04.

In related news, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $87.84, for a total value of $1,796,942.88. Following the completion of the sale, the chief operating officer now owns 313,721 shares in the company, valued at approximately $27,557,252.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Maurizio Carli sold 11,237 shares of the company’s stock in a transaction on Monday, June 5th. The shares were 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. 0.52% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Vmware (NYSE:VMW)

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