Comerica Securities Inc. Boosts Position in Vmware, Inc. (VMW)

Comerica Securities Inc. boosted its position in shares of Vmware, Inc. (NYSE:VMW) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,648 shares of the virtualization software provider’s stock after acquiring an additional 448 shares during the quarter. Comerica Securities Inc.’s holdings in Vmware were worth $406,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of VMW. Oppenheimer Asset Management Inc. purchased a new stake in Vmware during the first quarter valued at $141,000. Penserra Capital Management LLC increased its position in Vmware by 13.0% during the second quarter. Penserra Capital Management LLC now owns 2,080 shares of the virtualization software provider’s stock valued at $181,000 after acquiring an additional 240 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in Vmware during the second quarter valued at $203,000. BB&T Securities LLC purchased a new stake in Vmware during the first quarter valued at $209,000. Finally, Sapphire Star Partners LP purchased a new stake in Vmware during the second quarter valued at $210,000. Institutional investors own 21.81% of the company’s stock.

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Shares of Vmware, Inc. (VMW) opened at 110.25 on Friday. The stock has a market capitalization of $45.09 billion, a P/E ratio of 39.69 and a beta of 0.74. Vmware, Inc. has a 12 month low of $72.05 and a 12 month high of $111.61. The firm’s 50-day moving average price is $100.28 and its 200-day moving average price is $93.70.

Vmware (NYSE:VMW) last issued its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. On average, equities research analysts forecast that Vmware, Inc. will post $5.06 EPS for the current year.

Vmware declared that its Board of Directors has authorized a stock buyback program on Monday, August 14th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of analysts recently commented on VMW shares. Cowen and Company upped their price objective on Vmware from $92.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, May 25th. Zacks Investment Research cut Vmware from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Robert W. Baird upgraded Vmware from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $90.00 to $115.00 in a research report on Wednesday, May 31st. Royal Bank Of Canada upped their price objective on Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $95.00 price objective on shares of Vmware in a research report on Thursday, June 1st. Thirteen research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Vmware currently has an average rating of “Buy” and an average target price of $112.00.

In other news, COO Rajiv Ramaswami sold 20,457 shares of the business’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 transaction of $1,796,942.88. Following the transaction, the chief operating officer now directly owns 313,721 shares in the company, valued at approximately $27,557,252.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Sanjay Poonen sold 1,134 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $106.51, for a total value of $120,782.34. Following the transaction, the chief operating officer now owns 192,774 shares in the company, valued at $20,532,358.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,342 shares of company stock worth $4,045,490. Insiders own 0.52% of the company’s stock.

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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Institutional Ownership by Quarter for Vmware (NYSE:VMW)

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