Hewlett Packard Enterprise Company (HPE) Now Covered by Analysts at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company began coverage on shares of Hewlett Packard Enterprise Company (NYSE:HPE) in a research note issued on Tuesday. The brokerage set a “market perform” rating on the technology company’s stock.

A number of other research analysts also recently issued reports on HPE. Royal Bank Of Canada restated a “hold” rating and set a $15.00 price target on shares of Hewlett Packard Enterprise in a research note on Wednesday, October 11th. KeyCorp restated a “hold” rating on shares of Hewlett Packard Enterprise in a research note on Friday, October 20th. UBS AG downgraded Hewlett Packard Enterprise from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Friday, October 20th. BidaskClub downgraded Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Robert W. Baird restated a “hold” rating and set a $16.00 price target on shares of Hewlett Packard Enterprise in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $17.79.

Hewlett Packard Enterprise (NYSE:HPE) traded down $0.22 on Tuesday, hitting $13.48. The stock had a trading volume of 14,681,100 shares, compared to its average volume of 12,083,662. Hewlett Packard Enterprise has a fifty-two week low of $12.97 and a fifty-two week high of $24.88. The stock has a market cap of $22,186.66, a P/E ratio of 8.46, a P/E/G ratio of 1.76 and a beta of 2.59. The company has a current ratio of 1.27, a quick ratio of 1.15 and a debt-to-equity ratio of 0.50.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Tuesday, September 5th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Hewlett Packard Enterprise had a return on equity of 9.04% and a net margin of 0.29%. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. analysts forecast that Hewlett Packard Enterprise will post 1.38 EPS for the current year.

Hewlett Packard Enterprise declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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In related news, CEO Margaret C. Whitman sold 249,052 shares of Hewlett Packard Enterprise stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $13.14, for a total transaction of $3,272,543.28. Following the completion of the transaction, the chief executive officer now directly owns 892,118 shares of the company’s stock, valued at $11,722,430.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Margaret C. Whitman sold 389,668 shares of Hewlett Packard Enterprise stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $17.64, for a total value of $6,873,743.52. Following the transaction, the chief executive officer now directly owns 962,433 shares of the company’s stock, valued at $16,977,318.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,309,941 shares of company stock valued at $48,162,528. 0.87% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC raised its holdings in Hewlett Packard Enterprise by 3.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the technology company’s stock worth $108,000 after purchasing an additional 200 shares during the last quarter. Westside Investment Management Inc. raised its holdings in Hewlett Packard Enterprise by 1.5% during the second quarter. Westside Investment Management Inc. now owns 17,432 shares of the technology company’s stock worth $292,000 after purchasing an additional 250 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Hewlett Packard Enterprise by 4.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,713 shares of the technology company’s stock worth $111,000 after purchasing an additional 266 shares during the last quarter. Meridian Investment Counsel Inc. raised its holdings in Hewlett Packard Enterprise by 1.5% during the second quarter. Meridian Investment Counsel Inc. now owns 23,557 shares of the technology company’s stock worth $391,000 after purchasing an additional 350 shares during the last quarter. Finally, Budros Ruhlin & Roe Inc. raised its holdings in Hewlett Packard Enterprise by 1.4% during the second quarter. Budros Ruhlin & Roe Inc. now owns 24,657 shares of the technology company’s stock worth $409,000 after purchasing an additional 352 shares during the last quarter. 81.96% of the stock is owned by hedge funds and other institutional investors.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).

Analyst Recommendations for Hewlett Packard Enterprise (NYSE:HPE)

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