Microsoft Corporation (NASDAQ:MSFT) was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $86.00 price objective on the software giant’s stock, up from their previous price objective of $76.00. Canaccord Genuity’s target price would suggest a potential upside of 13.20% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Microsoft Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer Holdings, Inc. set a $80.00 price target on shares of Microsoft Corporation and gave the stock a “buy” rating in a research note on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $80.00 price target on shares of Microsoft Corporation in a research note on Monday, September 18th. Royal Bank Of Canada set a $77.00 price target on shares of Microsoft Corporation and gave the stock a “buy” rating in a research note on Monday, September 18th. Finally, Vetr lowered shares of Microsoft Corporation from a “buy” rating to a “hold” rating and set a $74.32 price target on the stock. in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the company’s stock. Microsoft Corporation presently has an average rating of “Buy” and an average target price of $76.98.

Shares of Microsoft Corporation (MSFT) traded up 1.71% during trading on Thursday, hitting $75.97. The stock had a trading volume of 21,195,261 shares. The stock has a market cap of $585.14 billion, a P/E ratio of 28.03 and a beta of 1.01. The stock’s 50 day moving average price is $73.99 and its 200-day moving average price is $70.56. Microsoft Corporation has a one year low of $56.32 and a one year high of $76.12.

Microsoft Corporation (NASDAQ:MSFT) last released its quarterly earnings data on Thursday, July 20th. The software giant reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.27. The business had revenue of $24.70 billion during the quarter, compared to analysts’ expectations of $24.29 billion. Microsoft Corporation had a net margin of 23.57% and a return on equity of 36.81%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. Analysts expect that Microsoft Corporation will post $3.20 earnings per share for the current fiscal year.

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In related news, CFO Amy Hood sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $72.71, for a total transaction of $3,999,050.00. Following the completion of the transaction, the chief financial officer now owns 510,217 shares of the company’s stock, valued at $37,097,878.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider G Mason Morfit sold 7,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $72.56, for a total transaction of $507,920,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 7,108,526 shares of company stock valued at $515,879,974. Company insiders own 2.99% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Microsoft Corporation by 4.6% during the second quarter. Vanguard Group Inc. now owns 564,052,011 shares of the software giant’s stock worth $38,880,105,000 after purchasing an additional 25,053,413 shares during the last quarter. State Street Corp increased its position in Microsoft Corporation by 0.8% during the first quarter. State Street Corp now owns 318,681,830 shares of the software giant’s stock worth $20,988,383,000 after purchasing an additional 2,552,473 shares during the last quarter. Capital Research Global Investors increased its position in Microsoft Corporation by 212.3% during the second quarter. Capital Research Global Investors now owns 69,663,044 shares of the software giant’s stock worth $4,801,874,000 after purchasing an additional 47,353,245 shares during the last quarter. Janus Henderson Group PLC increased its position in Microsoft Corporation by 609.4% during the second quarter. Janus Henderson Group PLC now owns 49,174,883 shares of the software giant’s stock worth $3,389,625,000 after purchasing an additional 42,243,011 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Microsoft Corporation by 1.1% during the second quarter. Legal & General Group Plc now owns 37,689,022 shares of the software giant’s stock worth $2,597,786,000 after purchasing an additional 425,485 shares during the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Microsoft Corporation Company Profile

Microsoft Corporation is a technology company. The Company develops, licenses, and supports a range of software products, services and devices. The Company’s segments include Productivity and Business Processes, Intelligent Cloud and More Personal Computing. The Company’s products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; video games, and training and certification of computer system integrators and developers.

Analyst Recommendations for Microsoft Corporation (NASDAQ:MSFT)

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