Symantec (NASDAQ:SYMC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.
A number of other equities analysts also recently commented on SYMC. Morgan Stanley downgraded Symantec from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $37.00 to $34.00 in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Symantec from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “buy” rating and set a $40.00 price objective on shares of Symantec in a research report on Tuesday, September 12th. Standpoint Research downgraded Symantec from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Evercore ISI restated a “hold” rating and issued a $25.00 target price on shares of Symantec in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Symantec currently has an average rating of “Hold” and an average target price of $32.39.
Shares of Symantec (SYMC) traded up $1.24 during trading on Tuesday, reaching $29.22. The company had a trading volume of 8,098,200 shares, compared to its average volume of 6,730,237. Symantec has a 52-week low of $23.77 and a 52-week high of $34.20. The stock has a market capitalization of $17,347.10, a P/E ratio of 44.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12.
In related news, SVP Amy L. Cappellanti-Wolf sold 4,496 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $32.88, for a total value of $147,828.48. Following the sale, the senior vice president now owns 108,411 shares in the company, valued at approximately $3,564,553.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Nicholas R. Noviello sold 375,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the sale, the chief financial officer now owns 565,319 shares in the company, valued at approximately $16,609,072.22. The disclosure for this sale can be found here. Insiders sold a total of 451,721 shares of company stock worth $13,228,858 in the last quarter. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Bessemer Group Inc. grew its stake in Symantec by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after purchasing an additional 106 shares in the last quarter. Wetherby Asset Management Inc. grew its stake in Symantec by 2.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after purchasing an additional 246 shares in the last quarter. Blair William & Co. IL grew its stake in Symantec by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock worth $376,000 after purchasing an additional 291 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Symantec by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after purchasing an additional 292 shares in the last quarter. Finally, Johnson Financial Group Inc. grew its stake in Symantec by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock worth $158,000 after purchasing an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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