Share on StockTwits

Tibco Software (NASDAQ:TIBX) CEO Vivek Ranadive sold 664,600 shares of the company’s stock on the open market in a transaction dated Thursday, June 26th. The stock was sold at an average price of $19.64, for a total transaction of $13,052,744.00. Following the sale, the chief executive officer now directly owns 7,623,394 shares of the company’s stock, valued at approximately $149,723,458. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Tibco Software (NASDAQ:TIBX) traded up 1.17% during mid-day trading on Friday, hitting $19.96. The stock had a trading volume of 1,701,712 shares. Tibco Software has a 52-week low of $18.20 and a 52-week high of $27.15. The stock’s 50-day moving average is $20.18 and its 200-day moving average is $21.08. The company has a market cap of $3.253 billion and a price-to-earnings ratio of 41.89. Tibco Software also saw a large growth in short interest in the month of June. As of June 13th, there was short interest totalling 3,012,736 shares, a growth of 39.2% from the May 30th total of 2,163,557 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 4,758,189 shares, the days-to-cover ratio is presently 0.6 days.

Tibco Software (NASDAQ:TIBX) last announced its earnings results on Thursday, June 19th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The company had revenue of $252.30 million for the quarter, compared to the consensus estimate of $252.33 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Tibco Software will post $0.84 EPS for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Wedbush raised their price target on shares of Tibco Software from $19.00 to $20.00 in a research note on Friday, June 20th. They now have a “neutral” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Tibco Software from $17.00 to $19.00 in a research note on Friday, June 20th. They now have a “hold” rating on the stock. Finally, analysts at Susquehanna downgraded shares of Tibco Software from a “positive” rating to a “neutral” rating in a research note on Friday, June 20th. They now have a $19.00 price target on the stock, down previously from $24.00. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Tibco Software presently has an average rating of “Hold” and an average price target of $24.62.

TIBCO Software Inc (NASDAQ:TIBX) is a provider of middleware and infrastructure software.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.