Compagnie Lombard Odier SCmA boosted its stake in Red Hat Software (NYSE:RHT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,400 shares of the open-source software company’s stock after buying an additional 3,000 shares during the period. Compagnie Lombard Odier SCmA owned 0.06% of Red Hat Software worth $12,900,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Red Hat Software during the fourth quarter valued at approximately $288,000. MetLife Investment Advisors LLC bought a new stake in shares of Red Hat Software during the 4th quarter valued at $6,575,000. Gotham Asset Management LLC grew its position in shares of Red Hat Software by 95.2% during the 4th quarter. Gotham Asset Management LLC now owns 83,979 shares of the open-source software company’s stock valued at $10,086,000 after acquiring an additional 40,950 shares during the period. Jump Trading LLC bought a new stake in shares of Red Hat Software during the 4th quarter valued at $445,000. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Red Hat Software by 81.7% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 8,320 shares of the open-source software company’s stock valued at $999,000 after acquiring an additional 3,740 shares during the period. Institutional investors and hedge funds own 95.74% of the company’s stock.
In related news, Director Charlene T. Begley sold 4,500 shares of the stock in a transaction dated Tuesday, April 10th. The shares were sold at an average price of $156.15, for a total value of $702,675.00. Following the sale, the director now directly owns 8,144 shares of the company’s stock, valued at approximately $1,271,685.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James M. Whitehurst sold 5,593 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $124.87, for a total transaction of $698,397.91. Following the completion of the sale, the chief executive officer now directly owns 373,506 shares in the company, valued at $46,639,694.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,186 shares of company stock valued at $4,879,717. 0.66% of the stock is owned by insiders.
RHT has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and issued a $180.00 target price on shares of Red Hat Software in a report on Tuesday, March 27th. Stifel Nicolaus upped their target price on shares of Red Hat Software from $150.00 to $172.00 and gave the stock a “buy” rating in a report on Tuesday, March 27th. Citigroup reiterated a “buy” rating and issued a $148.00 price target on shares of Red Hat Software in a research note on Wednesday, December 13th. Oppenheimer increased their price objective on shares of Red Hat Software from $140.00 to $175.00 and gave the company an “outperform” rating in a research note on Tuesday, March 27th. Finally, Monness Crespi & Hardt began coverage on shares of Red Hat Software in a research note on Wednesday. They set a “buy” rating and a $175.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-four have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $152.82.
Shares of Red Hat Software stock traded up $2.80 during trading hours on Thursday, hitting $159.20. The company had a trading volume of 1,993,544 shares, compared to its average volume of 1,852,296. Red Hat Software has a twelve month low of $84.16 and a twelve month high of $167.36. The company has a current ratio of 1.36, a quick ratio of 1.37 and a debt-to-equity ratio of 0.51. The stock has a market cap of $27,745.42, a price-to-earnings ratio of 69.22, a PEG ratio of 3.95 and a beta of 1.07.
Red Hat Software (NYSE:RHT) last released its quarterly earnings results on Monday, March 26th. The open-source software company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $761.87 million. Red Hat Software had a net margin of 8.86% and a return on equity of 29.36%. Red Hat Software’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. analysts forecast that Red Hat Software will post 2.52 earnings per share for the current fiscal year.
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Red Hat Software Company Profile
Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.
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