Convergence Investment Partners LLC Lowers Stake in VMware, Inc. (VMW)

Convergence Investment Partners LLC reduced its position in shares of VMware, Inc. (NYSE:VMW) by 13.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,123 shares of the virtualization software provider’s stock after selling 2,896 shares during the quarter. Convergence Investment Partners LLC’s holdings in VMware were worth $2,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VMW. Bronfman E.L. Rothschild L.P. boosted its position in shares of VMware by 1,643.8% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after acquiring an additional 1,200 shares during the last quarter. Enterprise Financial Services Corp boosted its position in shares of VMware by 3,975.6% during the 3rd quarter. Enterprise Financial Services Corp now owns 1,671 shares of the virtualization software provider’s stock valued at $182,000 after acquiring an additional 1,630 shares during the last quarter. BlueMountain Capital Management LLC bought a new position in shares of VMware during the 2nd quarter valued at approximately $191,000. Cadence Capital Management LLC bought a new position in shares of VMware during the 3rd quarter valued at approximately $204,000. Finally, Argent Trust Co bought a new position in shares of VMware during the 3rd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 22.53% of the company’s stock.

VMW has been the subject of a number of research reports. Barclays reiterated a “buy” rating on shares of VMware in a research report on Friday, November 10th. Robert W. Baird restated a “buy” rating and set a $125.00 price target on shares of VMware in a report on Wednesday, October 4th. Zacks Investment Research upgraded VMware from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, September 26th. Drexel Hamilton restated a “buy” rating and set a $120.00 price target on shares of VMware in a report on Thursday, November 2nd. Finally, Bank of America increased their price target on VMware from $125.00 to $148.00 and gave the company a “buy” rating in a report on Monday, November 27th. Ten analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $125.20.

Shares of VMware, Inc. (NYSE VMW) opened at $132.14 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.86 and a quick ratio of 2.86. VMware, Inc. has a 52 week low of $81.11 and a 52 week high of $134.45. The firm has a market capitalization of $53,270.00, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 3.05 and a beta of 0.67.

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, topping analysts’ consensus estimates of $1.27 by $0.07. VMware had a return on equity of 18.57% and a net margin of 18.97%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. sell-side analysts expect that VMware, Inc. will post 3.77 EPS for the current year.

In other news, Director Egon Durban sold 435,682 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $1,151,705.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 484,155 shares of company stock worth $53,551,032. Insiders own 34.40% of the company’s stock.

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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).

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Institutional Ownership by Quarter for VMware (NYSE:VMW)

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