VMware (VMW) Upgraded at Cowen

Cowen upgraded shares of VMware (NYSE:VMW) from a market perform rating to an outperform rating in a research note issued to investors on Thursday morning.

A number of other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of VMware from a buy rating to a hold rating in a research report on Monday, October 16th. Barclays reaffirmed a buy rating on shares of VMware in a report on Friday, November 10th. KeyCorp raised shares of VMware from a sector weight rating to an overweight rating and set a $142.00 price objective for the company in a report on Monday, December 18th. Stifel Nicolaus reaffirmed a buy rating and issued a $152.00 price objective (up from $150.00) on shares of VMware in a report on Monday, November 27th. Finally, Drexel Hamilton reaffirmed a buy rating and issued a $120.00 price objective on shares of VMware in a report on Thursday, November 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $125.20.

VMware (NYSE VMW) opened at $132.53 on Thursday. VMware has a 52-week low of $80.90 and a 52-week high of $133.33. The firm has a market cap of $53,427.88, a P/E ratio of 35.92, a PEG ratio of 3.05 and a beta of 0.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.86 and a current ratio of 2.86.

VMware (NYSE:VMW) last released its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.07. VMware had a net margin of 18.97% and a return on equity of 18.57%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. sell-side analysts anticipate that VMware will post 3.77 earnings per share for the current fiscal year.

In other VMware news, Director Egon Durban sold 435,682 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $109.31, for a total value of $47,624,399.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rajiv Ramaswami sold 9,747 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $118.16, for a total transaction of $1,151,705.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 484,155 shares of company stock valued at $53,551,032. Insiders own 34.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Shelton Capital Management bought a new position in VMware in the 3rd quarter valued at $211,000. Public Employees Retirement System of Ohio boosted its holdings in VMware by 6.3% in the 3rd 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 bought a new position in VMware in the 3rd quarter valued at $389,000. Argent Capital Management LLC bought a new position in VMware in the 3rd quarter valued at $26,853,000. Finally, California Public Employees Retirement System boosted its holdings in 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 valued at $21,642,000 after purchasing an additional 9,303 shares during the period. 22.53% of the stock is owned by hedge funds and other institutional investors.

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About VMware

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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