Texas Permanent School Fund Decreases Stake in Symantec Co. (NASDAQ:SYMC)

Texas Permanent School Fund decreased its position in Symantec Co. (NASDAQ:SYMC) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,913 shares of the technology company’s stock after selling 13,306 shares during the period. Texas Permanent School Fund’s holdings in Symantec were worth $2,503,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of SYMC. Arcadia Investment Management Corp MI purchased a new stake in shares of Symantec during the 2nd quarter worth approximately $39,000. CX Institutional grew its stake in Symantec by 40.0% in the 2nd quarter. CX Institutional now owns 3,937 shares of the technology company’s stock valued at $86,000 after buying an additional 1,124 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in Symantec in the 2nd quarter valued at approximately $215,000. Capital Fund Management S.A. grew its stake in Symantec by 39.1% in the 2nd quarter. Capital Fund Management S.A. now owns 1,037,009 shares of the technology company’s stock valued at $22,565,000 after buying an additional 291,700 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in Symantec by 62.7% in the 2nd quarter. Bessemer Group Inc. now owns 36,640 shares of the technology company’s stock valued at $797,000 after buying an additional 14,114 shares in the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.

In other news, EVP Samir Kapuria sold 9,674 shares of Symantec stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $23.58, for a total transaction of $228,112.92. Following the completion of the sale, the executive vice president now directly owns 367,818 shares of the company’s stock, valued at approximately $8,673,148.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Feld acquired 1,325,814 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the acquisition, the director now directly owns 24,685 shares in the company, valued at approximately $566,520.75. The disclosure for this purchase can be found here. Insiders have sold a total of 29,022 shares of company stock valued at $678,825 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Shares of NASDAQ:SYMC opened at $23.75 on Friday. The firm has a fifty day moving average price of $23.41 and a two-hundred day moving average price of $22.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.71 and a quick ratio of 0.71. Symantec Co. has a one year low of $17.42 and a one year high of $26.07. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 3.77 and a beta of 1.28.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. Symantec had a net margin of 2.43% and a return on equity of 14.94%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts expect that Symantec Co. will post 1.33 EPS for the current fiscal year.

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Symantec from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 26th. Evercore ISI set a $22.00 price objective on shares of Symantec and gave the company a “hold” rating in a research note on Friday, August 9th. Argus reiterated a “hold” rating on shares of Symantec in a research note on Tuesday, August 13th. ValuEngine lowered shares of Symantec from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Wedbush set a $19.00 price target on shares of Symantec and gave the company a “hold” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.18.

Symantec Company Profile

Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.

Further Reading: 52-Week High/Low

Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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