Vmware (VMW) Downgraded by Gabelli

Vmware (NYSE:VMW) was downgraded by equities researchers at Gabelli from a “buy” rating to a “hold” rating in a research note issued on Friday. The analysts noted that the move was a valuation call.

A number of other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Vmware from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, September 4th. Citigroup reiterated a “buy” rating and issued a $124.00 price objective on shares of Vmware in a research note on Monday, August 28th. Barclays reiterated a “buy” rating on shares of Vmware in a research note on Friday, November 10th. Berenberg Bank reiterated a “hold” rating and issued a $94.00 price objective on shares of Vmware in a research note on Tuesday, August 29th. Finally, Jefferies Group lifted their price objective on shares of Vmware from $121.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Sixteen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $121.74.

Vmware (NYSE:VMW) traded up $0.69 during midday trading on Friday, hitting $120.11. 4,418,600 shares of the stock were exchanged, compared to its average volume of 1,584,219. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10. The firm has a market cap of $52,165.21, a PE ratio of 35.87, a PEG ratio of 2.92 and a beta of 0.67. Vmware has a one year low of $76.81 and a one year high of $127.60.

Vmware (NYSE:VMW) last posted its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Vmware had a net margin of 17.81% and a return on equity of 18.06%. Vmware’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 EPS. equities analysts anticipate that Vmware will post 3.79 EPS for the current fiscal year.

Vmware declared that its Board of Directors has approved a stock repurchase plan on Monday, August 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In related news, Director Egon Durban sold 435,682 shares of Vmware stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total transaction of $47,624,399.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Sanjay Poonen sold 1,134 shares of Vmware stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $106.51, for a total transaction of $120,782.34. Following the sale, the chief operating officer now directly owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Insiders sold a total of 446,563 shares of company stock valued at $48,896,887 over the last 90 days. Corporate insiders own 34.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Shelton Capital Management bought a new stake in Vmware during the 3rd quarter worth approximately $211,000. Public Employees Retirement System of Ohio grew its holdings in Vmware by 6.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 84,111 shares of the virtualization software provider’s stock worth $9,184,000 after acquiring an additional 4,952 shares during the last quarter. Independent Advisor Alliance bought a new stake in Vmware during the 3rd quarter worth approximately $389,000. Argent Capital Management LLC acquired a new position in shares of Vmware in the 3rd quarter worth approximately $26,853,000. Finally, California Public Employees Retirement System lifted its position in shares of Vmware by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 198,203 shares of the virtualization software provider’s stock worth $21,642,000 after purchasing an additional 9,303 shares during the period. 22.21% of the stock is currently owned by hedge funds and other institutional investors.

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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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