William Blair reissued their outperform rating on shares of Vmware, Inc. (NYSE:VMW) in a report published on Tuesday morning.

VMW has been the subject of several other research reports. BMO Capital Markets lifted their price target on shares of Vmware from $105.00 to $110.00 and gave the company a market perform rating in a research report on Tuesday, August 15th. Jefferies Group LLC reissued a buy rating and issued a $110.00 price target (up previously from $105.00) on shares of Vmware in a research report on Saturday, June 3rd. Deutsche Bank AG lifted their price target on shares of Vmware from $100.00 to $110.00 and gave the company a hold rating in a research report on Tuesday, August 15th. MKM Partners reissued a buy rating and issued a $110.00 price target (up previously from $100.00) on shares of Vmware in a research report on Thursday, June 1st. Finally, Morgan Stanley reissued an overweight rating and issued a $107.00 price target (up previously from $100.00) on shares of Vmware in a research report on Saturday, June 3rd. Fourteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $109.88.

Vmware (NYSE:VMW) opened at 106.10 on Tuesday. The stock has a 50 day moving average of $97.78 and a 200 day moving average of $93.04. Vmware has a 12-month low of $72.05 and a 12-month high of $108.33. The firm has a market cap of $43.46 billion, a PE ratio of 38.19 and a beta of 0.74.

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

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Vmware announced that its Board of Directors has authorized a stock buyback plan on Monday, August 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the virtualization software provider to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, COO Rajiv Ramaswami sold 20,457 shares of the company’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 completion of the transaction, the chief operating officer now owns 313,721 shares in the company, valued at $27,557,252.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.82, for a total value of $646,920.00. The disclosure for this sale can be found here. Insiders sold 40,208 shares of company stock valued at $3,924,708 in the last quarter. Corporate insiders own 0.52% of the company’s stock.

Several institutional investors have recently made changes to their positions in VMW. Capstone Asset Management Co. raised its holdings in shares of Vmware by 8.4% during the first quarter. Capstone Asset Management Co. now owns 3,739 shares of the virtualization software provider’s stock valued at $345,000 after acquiring an additional 290 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Vmware by 13.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 253,172 shares of the virtualization software provider’s stock valued at $23,327,000 after acquiring an additional 29,296 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Vmware by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 123,468 shares of the virtualization software provider’s stock valued at $11,376,000 after acquiring an additional 3,080 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Vmware by 38.1% during the first quarter. Daiwa Securities Group Inc. now owns 13,050 shares of the virtualization software provider’s stock valued at $1,202,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Boston Partners bought a new position in shares of Vmware during the first quarter valued at approximately $645,000. Institutional investors own 21.81% of the company’s stock.

Vmware Company Profile

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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