BMO Capital Markets restated their market perform rating on shares of Vmware, Inc. (NYSE:VMW) in a research report released on Friday morning. The firm currently has a $114.00 target price on the virtualization software provider’s stock, up from their prior target price of $110.00.

VMW has been the subject of several other reports. Morgan Stanley reaffirmed an overweight rating and issued a $115.00 target price (up from $107.00) on shares of Vmware in a research report on Friday. Jefferies Group LLC increased their price objective on Vmware from $121.00 to $129.00 and gave the stock a buy rating in a research note on Friday. Drexel Hamilton restated a buy rating and issued a $120.00 target price (up from $113.00) on shares of Vmware in a research note on Friday. Maxim Group restated a hold rating and issued a $105.00 target price on shares of Vmware in a research note on Friday. Finally, Bank of America Corporation upgraded Vmware from a neutral rating to a buy rating and raised their target price for the company from $108.00 to $120.00 in a research note on Friday. Sixteen analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $105.12.

Vmware (NYSE VMW) opened at 102.74 on Friday. The stock has a 50 day moving average of $93.36 and a 200 day moving average of $91.99. Vmware has a one year low of $71.81 and a one year high of $104.81. The firm has a market capitalization of $42.09 billion, a price-to-earnings ratio of 36.98 and a beta of 0.77.

Vmware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Vmware had a return on equity of 18.34% and a net margin of 17.81%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Analysts forecast that Vmware will post $5.01 earnings per share for the current year.

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Vmware declared that its board has authorized a share repurchase program on Monday, August 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the virtualization software provider to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

In related news, COO Rajiv Ramaswami sold 20,457 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $87.84, for a total value of $1,796,942.88. Following the transaction, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $94.66, for a total value of $1,063,694.42. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in VMW. Financial Architects Inc purchased a new position in Vmware during the first quarter valued at $140,000. Advantage Investment Management LLC bought a new stake in Vmware during the first quarter valued at approximately $139,000. Oppenheimer Asset Management Inc. bought a new stake in Vmware during the first quarter valued at approximately $141,000. Penserra Capital Management LLC raised its stake in Vmware by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock valued at $169,000 after buying an additional 160 shares during the period. Finally, BlueMountain Capital Management LLC bought a new stake in Vmware during the second quarter valued at approximately $191,000. 21.80% of the stock is currently owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Vmware (NYSE:VMW)

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