Red Hat Inc. (NYSE:RHT) issued its quarterly earnings results on Wednesday. The open-source software company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.01. Red Hat had a net margin of 9.93% and a return on equity of 18.27%. During the same quarter last year, the firm earned $0.47 EPS.

Red Hat (NYSE:RHT) traded up 1.66% during mid-day trading on Wednesday, hitting $77.04. The company had a trading volume of 2,871,533 shares. The company’s 50 day moving average price is $73.96 and its 200-day moving average price is $74.09. The company has a market cap of $13.95 billion, a PE ratio of 67.58 and a beta of 1.32. Red Hat has a one year low of $59.59 and a one year high of $84.44.

Earnings History for Red Hat (NYSE:RHT)

A number of equities analysts have recently commented on RHT shares. Barclays PLC reissued an “overweight” rating and set a $90.00 price objective on shares of Red Hat in a research report on Wednesday, June 15th. Vetr downgraded Red Hat from a “strong-buy” rating to a “buy” rating and set a $84.60 price objective for the company. in a research report on Monday, August 8th. Deutsche Bank AG reissued a “buy” rating on shares of Red Hat in a research report on Friday, June 17th. William Blair reissued an “outperform” rating on shares of Red Hat in a research report on Tuesday, July 5th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $95.00 price objective on shares of Red Hat in a research report on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $87.69.

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In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of Red Hat stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $72.83, for a total transaction of $174,427.85. Following the sale, the executive vice president now owns 60,780 shares of the company’s stock, valued at approximately $4,426,607.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Cunningham sold 10,000 shares of Red Hat stock in a transaction on Monday, July 11th. The shares were sold at an average price of $73.14, for a total value of $731,400.00. Following the sale, the executive vice president now directly owns 64,800 shares in the company, valued at approximately $4,739,472. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Globeflex Capital L P increased its stake in shares of Red Hat by 1.8% in the second quarter. Globeflex Capital L P now owns 6,201 shares of the open-source software company’s stock valued at $450,000 after buying an additional 112 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Red Hat by 0.8% in the second quarter. ProShare Advisors LLC now owns 21,946 shares of the open-source software company’s stock valued at $1,593,000 after buying an additional 175 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Red Hat by 1.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 19,504 shares of the open-source software company’s stock valued at $1,416,000 after buying an additional 200 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Red Hat by 6.7% in the second quarter. Bank of Nova Scotia now owns 3,644 shares of the open-source software company’s stock valued at $265,000 after buying an additional 230 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Red Hat by 10.8% in the second quarter. Pacer Advisors Inc. now owns 3,392 shares of the open-source software company’s stock valued at $246,000 after buying an additional 331 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Red Hat Company Profile

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.

5 Day Chart for NYSE:RHT

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