Vmware, Inc. (VMW) Position Increased by Comerica Bank
Comerica Bank increased its holdings in shares of Vmware, Inc. (NYSE:VMW) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,599 shares of the virtualization software provider’s stock after buying an additional 7,245 shares during the quarter. Comerica Bank’s holdings in Vmware were worth $5,589,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in VMW. Dimensional Fund Advisors LP lifted its position in shares of Vmware by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 89,123 shares of the virtualization software provider’s stock worth $8,211,000 after buying an additional 875 shares during the last quarter. Capstone Asset Management Co. raised its position in Vmware by 2.4% in the second quarter. Capstone Asset Management Co. now owns 3,829 shares of the virtualization software provider’s stock valued at $335,000 after purchasing an additional 90 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Vmware by 556.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 11,464 shares of the virtualization software provider’s stock valued at $1,002,000 after purchasing an additional 9,717 shares during the last quarter. Aperio Group LLC raised its position in Vmware by 0.7% in the second quarter. Aperio Group LLC now owns 69,814 shares of the virtualization software provider’s stock valued at $6,104,000 after purchasing an additional 461 shares during the last quarter. Finally, US Bancorp DE raised its position in Vmware by 38.0% in the second quarter. US Bancorp DE now owns 7,394 shares of the virtualization software provider’s stock valued at $646,000 after purchasing an additional 2,035 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.
Shares of Vmware, Inc. (NYSE:VMW) opened at $125.39 on Wednesday. The company has a market capitalization of $51,280.00, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.85 and a beta of 0.67. Vmware, Inc. has a fifty-two week low of $76.81 and a fifty-two week high of $126.33. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.10.
Vmware (NYSE:VMW) last issued its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. Vmware’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. analysts anticipate that Vmware, Inc. will post 3.79 EPS for the current fiscal year.
Vmware declared that its board has initiated a share repurchase program on Monday, August 14th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the virtualization software provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
VMW has been the subject of several research reports. Zacks Investment Research downgraded Vmware from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Citigroup Inc. increased their target price on Vmware from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Mizuho increased their target price on Vmware from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. Robert W. Baird set a $115.00 target price on Vmware and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $104.00 target price (up from $98.00) on shares of Vmware in a research report on Monday, August 14th. Fifteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Vmware has a consensus rating of “Buy” and a consensus target price of $116.00.
In other Vmware news, Director Egon Durban sold 435,682 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider P. Kevan Krysler sold 13,751 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $107.69, for a total value of $1,480,845.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 466,314 shares of company stock worth $51,024,652. Corporate insiders own 0.52% of the company’s stock.
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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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