Research analysts at Deutsche Bank started coverage on shares of Symantec (NASDAQ:SYMC) in a research report issued on Tuesday. The firm set a “hold” rating and a $30.00 price target on the technology company’s stock. Deutsche Bank’s price objective suggests a potential upside of 5.97% from the company’s previous close.
A number of other research firms also recently issued reports on SYMC. CIBC reissued an “outperform” rating and issued a $33.00 price objective (down previously from $35.00) on shares of Symantec in a report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 price target on shares of Symantec in a report on Friday, November 3rd. BidaskClub raised shares of Symantec from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Credit Suisse Group assumed coverage on shares of Symantec in a report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, Standpoint Research downgraded shares of Symantec from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Symantec has a consensus rating of “Hold” and a consensus price target of $32.29.
Symantec (NASDAQ:SYMC) traded down $0.34 on Tuesday, hitting $28.31. 4,968,900 shares of the company were exchanged, compared to its average volume of 6,718,493. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $17,967.08, a P/E ratio of 46.00, a price-to-earnings-growth ratio of 2.93 and a beta of 1.08. Symantec has a one year low of $23.77 and a one year high of $34.20.
In related news, 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 sale, the chief financial officer now owns 565,319 shares in the company, valued at $16,609,072.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Francis C. Rosch sold 57,103 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the sale, the executive vice president now owns 325,026 shares in the company, valued at approximately $8,912,212.92. The disclosure for this sale can be found here. Insiders sold 445,225 shares of company stock worth $13,014,010 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in SYMC. Bessemer Group Inc. increased its position in Symantec by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after purchasing an additional 106 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Symantec in the second quarter worth $1,165,000. Legal & General Group Plc increased its position in Symantec by 5.7% in the second quarter. Legal & General Group Plc now owns 3,550,840 shares of the technology company’s stock worth $100,309,000 after purchasing an additional 192,635 shares during the last quarter. Blair William & Co. IL increased its position in Symantec by 2.2% in the second 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 during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Symantec in the second quarter worth $1,415,000. Institutional investors own 94.74% of the company’s stock.
Symantec Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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.
