Vmware, Inc. (NYSE:VMW) – Equities researchers at Gabelli lifted their FY2018 earnings estimates for Vmware in a research report issued to clients and investors on Tuesday. Gabelli analyst H. Susanto now forecasts that the virtualization software provider will earn $3.75 per share for the year, up from their previous forecast of $3.48.

Several other analysts have also recently commented on the company. Cowen and Company raised their target price on Vmware from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Royal Bank Of Canada raised their target price on Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. BMO Capital Markets lowered their target price on Vmware from $105.00 to $98.00 and set a “market perform” rating on the stock in a research report on Friday, June 2nd. J P Morgan Chase & Co restated an “overweight” rating and issued a $95.00 target price on shares of Vmware in a research report on Thursday, June 1st. Finally, Zacks Investment Research cut Vmware from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Eighteen research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $100.69.

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Shares of Vmware (NYSE:VMW) traded down 0.26% during midday trading on Thursday, reaching $96.41. The company had a trading volume of 494,958 shares. Vmware has a 52-week low of $70.34 and a 52-week high of $98.20. The company’s 50 day moving average price is $91.22 and its 200 day moving average price is $91.47. The stock has a market capitalization of $39.38 billion, a PE ratio of 34.70 and a beta of 0.77.

Vmware (NYSE:VMW) last issued its earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.04. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.71 billion. Vmware had a return on equity of 17.19% and a net margin of 17.36%. Vmware’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Vmware by 4,817.7% in the first quarter. BlackRock Inc. now owns 5,098,863 shares of the virtualization software provider’s stock worth $469,811,000 after buying an additional 4,995,179 shares during the period. Vanguard Group Inc. increased its stake in Vmware by 9.9% in the first quarter. Vanguard Group Inc. now owns 3,930,665 shares of the virtualization software provider’s stock worth $362,171,000 after buying an additional 352,516 shares during the period. Investec Asset Management LTD increased its stake in Vmware by 3.0% in the second quarter. Investec Asset Management LTD now owns 2,669,142 shares of the virtualization software provider’s stock worth $233,363,000 after buying an additional 78,558 shares during the period. Voya Investment Management LLC increased its stake in Vmware by 25.7% in the second quarter. Voya Investment Management LLC now owns 2,633,434 shares of the virtualization software provider’s stock worth $230,241,000 after buying an additional 538,393 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Vmware by 10.6% in the first quarter. Clearbridge Investments LLC now owns 2,556,102 shares of the virtualization software provider’s stock worth $235,519,000 after buying an additional 244,512 shares during the period. 21.82% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Rajiv Ramaswami sold 20,457 shares of Vmware stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $87.84, for a total transaction of $1,796,942.88. Following the sale, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Maurizio Carli sold 11,237 shares of Vmware stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $94.66, for a total value of $1,063,694.42. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

Vmware announced that its board has authorized a share repurchase program on Monday, August 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Vmware

VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).

Earnings History and Estimates for Vmware (NYSE:VMW)

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