Red Hat (NYSE:RHT) had its target price upped by Royal Bank of Canada to $134.00 in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has an outperform rating on the open-source software company’s stock.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Red Hat from a hold rating to a buy rating and set a $120.00 target price for the company in a research note on Thursday, September 21st. Stifel Nicolaus reiterated a buy rating and issued a $115.00 target price on shares of Red Hat in a research note on Wednesday, September 20th. Drexel Hamilton reiterated a buy rating and issued a $130.00 target price (up previously from $127.00) on shares of Red Hat in a research note on Monday, September 25th. Moffett Nathanson initiated coverage on shares of Red Hat in a research note on Wednesday, September 6th. They issued a buy rating for the company. Finally, Mizuho restated a buy rating and set a $125.00 price target (up previously from $109.00) on shares of Red Hat in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-four have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $117.36.

Red Hat (NYSE RHT) traded up $2.65 during midday trading on Thursday, hitting $128.78. 2,185,400 shares of the stock traded hands, compared to its average volume of 1,653,489. Red Hat has a 12-month low of $68.54 and a 12-month high of $129.61. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $22,959.93, a price-to-earnings ratio of 70.76, a price-to-earnings-growth ratio of 4.09 and a beta of 1.19.

Red Hat (NYSE:RHT) last posted its earnings results on Monday, September 25th. The open-source software company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Red Hat had a net margin of 11.49% and a return on equity of 25.27%. The firm had revenue of $723.60 million during the quarter, compared to analyst estimates of $699.56 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue was up 20.6% compared to the same quarter last year. equities analysts forecast that Red Hat will post 2 EPS for the current fiscal year.

In other news, Director William S. Kaiser sold 14,000 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $114.79, for a total value of $1,607,060.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Delisa Alexander sold 1,073 shares of the stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $120.36, for a total transaction of $129,146.28. Following the completion of the sale, the executive vice president now directly owns 38,150 shares in the company, valued at $4,591,734. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,172 shares of company stock worth $3,926,377. Insiders own 0.66% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC lifted its holdings in shares of Red Hat by 9.8% in the third quarter. Parametric Portfolio Associates LLC now owns 339,521 shares of the open-source software company’s stock worth $37,639,000 after buying an additional 30,228 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Red Hat by 1.6% in the third quarter. Public Employees Retirement System of Ohio now owns 213,408 shares of the open-source software company’s stock valued at $23,658,000 after purchasing an additional 3,323 shares in the last quarter. IFM Investors Pty Ltd purchased a new stake in Red Hat in the third quarter valued at approximately $554,000. Neuberger Berman Group LLC purchased a new stake in Red Hat in the third quarter valued at approximately $13,422,000. Finally, Wunderlich Capital Managemnt raised its stake in Red Hat by 330.6% in the third quarter. Wunderlich Capital Managemnt now owns 9,831 shares of the open-source software company’s stock valued at $1,090,000 after purchasing an additional 7,548 shares in the last quarter. 93.85% of the stock is currently owned by hedge funds and other institutional investors.

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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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