Vmware (VMW) Earns “Buy” Rating from Deutsche Bank
Vmware (NYSE:VMW)‘s stock had its “buy” rating reaffirmed by analysts at Deutsche Bank in a report issued on Friday. They presently have a $145.00 price objective on the virtualization software provider’s stock. Deutsche Bank’s price objective indicates a potential upside of 20.72% from the company’s current price.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Vmware from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, September 4th. Citigroup reissued a “buy” rating and issued a $124.00 price objective on shares of Vmware in a report on Monday, August 28th. Barclays reissued a “buy” rating on shares of Vmware in a report on Friday, November 10th. Berenberg Bank reissued a “hold” rating and issued a $94.00 price objective on shares of Vmware in a report on Tuesday, August 29th. Finally, Jefferies Group increased their price objective on Vmware from $121.00 to $129.00 and gave the company a “buy” rating in a report on Friday, August 25th. Fifteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Vmware has an average rating of “Buy” and an average price target of $124.04.
Vmware (NYSE:VMW) traded up $0.69 during trading on Friday, reaching $120.11. The company’s stock had a trading volume of 4,418,600 shares, compared to its average volume of 1,584,219. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.98 and a current ratio of 1.98. Vmware has a 52 week low of $76.81 and a 52 week high of $127.60. The stock has a market capitalization of $50,890.00, a PE ratio of 35.87, a PEG ratio of 2.92 and a beta of 0.67.
Vmware announced that its Board of Directors has approved a stock repurchase plan on Monday, August 14th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other Vmware news, Director Egon Durban sold 435,682 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Sanjay Poonen sold 1,134 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $106.51, for a total value of $120,782.34. Following the completion of 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. Over the last three months, insiders sold 446,563 shares of company stock worth $48,896,887. 34.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Shelton Capital Management acquired a new stake in Vmware in the third quarter valued at approximately $211,000. Public Employees Retirement System of Ohio grew its holdings in Vmware by 6.3% in the third quarter. Public Employees Retirement System of Ohio now owns 84,111 shares of the virtualization software provider’s stock valued at $9,184,000 after purchasing an additional 4,952 shares during the period. Independent Advisor Alliance acquired a new stake in Vmware in the third quarter valued at approximately $389,000. Argent Capital Management LLC acquired a new stake in Vmware in the third quarter valued at approximately $26,853,000. Finally, California Public Employees Retirement System grew its holdings in Vmware by 4.9% in the third quarter. California Public Employees Retirement System now owns 198,203 shares of the virtualization software provider’s stock valued at $21,642,000 after purchasing an additional 9,303 shares during the period. 22.21% of the stock is currently owned by 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).
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