Vmware, Inc. (NYSE:VMW) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.

Other equities analysts also recently issued research reports about the company. Jefferies Group LLC reissued a “buy” rating and set a $110.00 price target (up previously from $105.00) on shares of Vmware in a research report on Saturday, June 3rd. MKM Partners reissued a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Vmware in a research report on Thursday, June 1st. Drexel Hamilton reissued a “buy” rating and set a $113.00 price target (up previously from $105.00) on shares of Vmware in a research report on Monday, June 5th. Stifel Nicolaus raised Vmware from a “hold” rating to a “buy” rating and boosted their price target for the stock from $96.00 to $109.00 in a research report on Wednesday, June 21st. Finally, Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Thursday, July 13th. Eighteen research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Vmware has an average rating of “Buy” and an average target price of $101.12.

Shares of Vmware (NYSE:VMW) traded up 0.52% on Friday, hitting $96.27. The stock had a trading volume of 770,989 shares. The stock has a market capitalization of $39.32 billion, a PE ratio of 34.65 and a beta of 0.77. Vmware has a one year low of $71.81 and a one year high of $98.20. The firm’s 50 day moving average is $91.66 and its 200-day moving average is $91.57.

Vmware (NYSE:VMW) last released its earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. Vmware had a return on equity of 17.19% and a net margin of 17.36%. Vmware’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. Equities research analysts expect that Vmware will post $5.01 earnings per share for the current fiscal year.

Vmware announced that its board has authorized a stock repurchase program on Monday, August 14th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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In other news, EVP Maurizio Carli sold 11,237 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $94.66, for a total transaction of $1,063,694.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Vmware by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,299 shares of the virtualization software provider’s stock valued at $463,000 after buying an additional 14 shares during the period. Federated Investors Inc. PA increased its position in shares of Vmware by 0.4% in the second quarter. Federated Investors Inc. PA now owns 15,323 shares of the virtualization software provider’s stock valued at $1,339,000 after buying an additional 66 shares during the period. Capstone Asset Management Co. increased its position in shares of Vmware by 2.4% in the second quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock valued at $335,000 after buying an additional 90 shares during the period. Laurion Capital Management LP increased its position in shares of Vmware by 2.8% in the second quarter. Laurion Capital Management LP now owns 3,700 shares of the virtualization software provider’s stock valued at $323,000 after buying an additional 100 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in shares of Vmware by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 24,556 shares of the virtualization software provider’s stock valued at $2,262,000 after buying an additional 115 shares during the period. Institutional investors own 21.82% of the company’s stock.

Vmware Company Profile

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).

Analyst Recommendations for Vmware (NYSE:VMW)

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