Insider Selling: Tibco Software EVP Unloads 15,000 Shares of Stock (TIBX)
Tibco Software (NASDAQ:TIBX) EVP Thomas J. Laffey sold 15,000 shares of the stock on the open market in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $19.17, for a total transaction of $287,550.00. Following the transaction, the executive vice president now directly owns 341,442 shares of the company’s stock, valued at approximately $6,545,443. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on TIBX. 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. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.36.
Tibco Software (NASDAQ:TIBX) traded down 1.14% on Friday, hitting $19.00. The stock had a trading volume of 1,988,345 shares. Tibco Software has a one year low of $18.20 and a one year high of $27.15. The stock’s 50-day moving average is $20.26 and its 200-day moving average is $20.8. The company has a market cap of $3.097 billion and a price-to-earnings ratio of 40.81. Tibco Software also saw a large increase in short interest in June. As of June 30th, there was short interest totalling 4,234,874 shares, an increase of 40.6% from the June 13th total of 3,012,736 shares. Based on an average daily trading volume, of 3,508,598 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.8% of the shares of the stock are sold short.
Tibco Software (NASDAQ:TIBX) last posted its quarterly earnings results on Thursday, June 19th. The company reported $0.14 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue 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.
TIBCO Software Inc (NASDAQ:TIBX) is a provider of middleware and infrastructure software.