Royal Bank of Canada Boosts Stake in Vmware, Inc. (VMW)
Royal Bank of Canada grew its holdings in Vmware, Inc. (NYSE:VMW) by 69.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 880,908 shares of the virtualization software provider’s stock after purchasing an additional 359,741 shares during the period. Royal Bank of Canada owned approximately 0.22% of Vmware worth $77,018,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Vmware during the first quarter valued at about $141,000. Penserra Capital Management LLC lifted its holdings in shares of Vmware by 13.0% in the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock worth $181,000 after buying an additional 240 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Vmware in the second quarter worth about $191,000. Eagle Global Advisors LLC purchased a new stake in shares of Vmware in the second quarter worth about $203,000. Finally, BB&T Securities LLC purchased a new stake in shares of Vmware in the first quarter worth about $209,000. 21.82% of the stock is currently owned by institutional investors.
In other news, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $27,557,252.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $107.82, for a total transaction of $646,920.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,342 shares of company stock worth $4,045,490. 0.52% of the stock is owned by insiders.
Shares of Vmware, Inc. (NYSE VMW) traded down 0.619% during mid-day trading on Wednesday, hitting $109.915. 129,172 shares of the stock were exchanged. Vmware, Inc. has a 12 month low of $72.27 and a 12 month high of $112.00. The stock’s 50 day moving average is $105.84 and its 200 day moving average is $95.41. The firm has a market cap of $44.95 billion, a P/E ratio of 39.566 and a beta of 0.72.
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, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The firm 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 18.06%. The company’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. Analysts expect that Vmware, Inc. will post $5.07 EPS for the current fiscal year.
Vmware announced that its board has authorized a share repurchase program on Monday, August 14th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the virtualization software provider to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Vmware from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Stifel Nicolaus raised shares of Vmware from a “hold” rating to a “buy” rating and raised their price target for the company from $96.00 to $109.00 in a report on Wednesday, June 21st. Zacks Investment Research raised shares of Vmware from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Thursday, July 13th. Citigroup Inc. boosted their price target on shares of Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Finally, Mizuho boosted their price target on shares of Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. Thirteen research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Vmware currently has a consensus rating of “Buy” and an average price target of $112.28.
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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