Symantec Co. (SYMC) Holdings Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in shares of Symantec Co. (NASDAQ:SYMC) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,706 shares of the technology company’s stock after acquiring an additional 4,157 shares during the quarter. IFM Investors Pty Ltd’s holdings in Symantec were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Symantec by 0.4% during the second quarter. BlackRock Inc. now owns 40,628,486 shares of the technology company’s stock worth $838,978,000 after acquiring an additional 145,704 shares in the last quarter. Morgan Stanley raised its stake in Symantec by 154.9% during the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock worth $187,185,000 after acquiring an additional 5,508,428 shares in the last quarter. First Trust Advisors LP raised its stake in Symantec by 59.0% during the second quarter. First Trust Advisors LP now owns 6,116,614 shares of the technology company’s stock worth $126,308,000 after acquiring an additional 2,268,620 shares in the last quarter. FMR LLC raised its stake in Symantec by 53.4% during the second quarter. FMR LLC now owns 4,536,913 shares of the technology company’s stock worth $93,688,000 after acquiring an additional 1,578,770 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its stake in Symantec by 7.6% during the second quarter. Beutel Goodman & Co Ltd. now owns 4,087,248 shares of the technology company’s stock worth $64,213,000 after acquiring an additional 287,865 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Several research firms have issued reports on SYMC. Stifel Nicolaus increased their price objective on Symantec from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Zacks Investment Research upgraded Symantec from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. BidaskClub upgraded Symantec from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. UBS Group lowered their target price on Symantec from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, August 3rd. Finally, Evercore ISI restated a “hold” rating and issued a $22.00 target price on shares of Symantec in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $23.55.

Shares of NASDAQ:SYMC opened at $18.00 on Tuesday. Symantec Co. has a twelve month low of $17.81 and a twelve month high of $32.95. The firm has a market capitalization of $11.59 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.67.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Sell-side analysts predict that Symantec Co. will post 0.9 EPS for the current year.

About Symantec

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

Read More: Intrinsic Value

Institutional Ownership by Quarter for Symantec (NASDAQ:SYMC)

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