Fiera Capital Corp Sells 8,712 Shares of Vmware, Inc. (VMW)
Fiera Capital Corp lessened its position in Vmware, Inc. (NYSE:VMW) by 22.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,250 shares of the virtualization software provider’s stock after selling 8,712 shares during the period. Fiera Capital Corp’s holdings in Vmware were worth $2,645,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in Vmware by 34.1% in the 1st quarter. Ameriprise Financial Inc. now owns 103,084 shares of the virtualization software provider’s stock worth $9,495,000 after purchasing an additional 26,199 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Vmware by 64.3% in the second quarter. BNP Paribas Arbitrage SA now owns 35,641 shares of the virtualization software provider’s stock valued at $3,116,000 after buying an additional 13,946 shares during the period. Summit Global Investments acquired a new stake in shares of Vmware in the second quarter valued at about $631,000. Nordea Investment Management AB increased its stake in shares of Vmware by 13.5% in the first quarter. Nordea Investment Management AB now owns 5,329 shares of the virtualization software provider’s stock valued at $491,000 after buying an additional 632 shares during the period. Finally, NN Investment Partners Holdings N.V. increased its stake in shares of Vmware by 4.2% in the first quarter. NN Investment Partners Holdings N.V. now owns 428,030 shares of the virtualization software provider’s stock valued at $39,438,000 after buying an additional 17,320 shares during the period. 21.82% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Bank of America Corporation reissued a “buy” rating and issued a $125.00 price target (up previously from $120.00) on shares of Vmware in a research note on Thursday. Barclays PLC raised Vmware from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $109.00 to $130.00 in a research note on Thursday. Robert W. Baird reissued a “buy” rating and issued a $125.00 price target on shares of Vmware in a research note on Tuesday, September 12th. Moffett Nathanson assumed coverage on Vmware in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $120.00 price target for the company. Finally, William Blair reissued an “outperform” rating on shares of Vmware in a research note on Tuesday, September 5th. Thirteen analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $112.00.
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 value 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 is accessible through this hyperlink. Also, insider P. Kevan Krysler sold 13,751 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.69, for a total value of $1,480,845.19. The disclosure for this sale can be found here. Insiders sold a total of 41,342 shares of company stock worth $4,045,490 over the last ninety days. 0.52% of the stock is currently owned by insiders.
Vmware, Inc. (NYSE:VMW) opened at 110.25 on Monday. Vmware, Inc. has a 12-month low of $72.05 and a 12-month high of $111.61. The stock has a 50 day moving average price of $100.28 and a 200-day moving average price of $93.70. The company has a market cap of $45.09 billion, a price-to-earnings ratio of 39.69 and a beta of 0.74.
Vmware (NYSE:VMW) last posted its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.97 EPS. On average, analysts predict that Vmware, Inc. will post $5.06 EPS for the current fiscal year.
Vmware declared that its board has initiated a stock repurchase plan on Monday, August 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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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