Public Employees Retirement System of Ohio Raises Stake in Red Hat Inc (RHT)
Public Employees Retirement System of Ohio lifted its position in Red Hat Inc (NYSE:RHT) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,408 shares of the open-source software company’s stock after acquiring an additional 3,323 shares during the quarter. Public Employees Retirement System of Ohio owned 0.12% of Red Hat worth $23,658,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its stake in Red Hat by 10.8% during the 2nd quarter. FMR LLC now owns 11,165,642 shares of the open-source software company’s stock valued at $1,069,110,000 after acquiring an additional 1,085,953 shares in the last quarter. Swedbank bought a new stake in Red Hat during the 3rd quarter valued at $115,424,000. American Century Companies Inc. raised its stake in Red Hat by 6,697.1% during the 3rd quarter. American Century Companies Inc. now owns 953,634 shares of the open-source software company’s stock valued at $105,720,000 after acquiring an additional 939,604 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Red Hat by 282.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,177,208 shares of the open-source software company’s stock valued at $112,718,000 after acquiring an additional 869,550 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Red Hat by 28.8% during the 2nd quarter. Northern Trust Corp now owns 3,794,946 shares of the open-source software company’s stock valued at $363,365,000 after purchasing an additional 848,777 shares during the period. Institutional investors own 93.85% of the company’s stock.
In related news, Director William S. Kaiser sold 14,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $114.79, for a total transaction of $1,607,060.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO James M. Whitehurst sold 12,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $111.15, for a total value of $1,333,800.00. Following the transaction, the chief executive officer now owns 392,979 shares in the company, valued at $43,679,615.85. The disclosure for this sale can be found here. Insiders have sold 34,172 shares of company stock worth $3,926,377 over the last 90 days. Corporate insiders own 0.66% of the company’s stock.
Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, September 25th. The open-source software company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.10. Red Hat had a return on equity of 25.27% and a net margin of 11.49%. The business had revenue of $723.60 million during the quarter, compared to analysts’ expectations of $699.56 million. During the same quarter in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. sell-side analysts predict that Red Hat Inc will post 2 earnings per share for the current fiscal year.
RHT has been the topic of several research analyst reports. Zacks Investment Research cut Red Hat from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $100.00 target price on shares of Red Hat in a report on Sunday, August 27th. Credit Suisse Group initiated coverage on Red Hat in a report on Tuesday, September 5th. They issued a “neutral” rating and a $111.00 target price on the stock. Moffett Nathanson initiated coverage on Red Hat in a report on Wednesday, September 6th. They issued a “buy” rating on the stock. Finally, KeyCorp restated an “overweight” rating and issued a $121.00 target price on shares of Red Hat in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Red Hat presently has a consensus rating of “Buy” and an average target price of $115.74.
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About Red Hat
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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