Public Employees Retirement Association of Colorado lowered its position in Red Hat Inc (NYSE:RHT) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,619 shares of the open-source software company’s stock after selling 74 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Red Hat were worth $5,729,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in RHT. Alpha Omega Wealth Management LLC purchased a new stake in shares of Red Hat in the fourth quarter valued at about $25,000. Athena Capital Advisors LLC purchased a new stake in shares of Red Hat in the fourth quarter valued at about $27,000. Legacy Financial Advisors Inc. purchased a new stake in shares of Red Hat in the fourth quarter valued at about $33,000. Lindbrook Capital LLC purchased a new stake in shares of Red Hat in the fourth quarter valued at about $47,000. Finally, Reilly Financial Advisors LLC grew its holdings in shares of Red Hat by 40.8% in the fourth quarter. Reilly Financial Advisors LLC now owns 276 shares of the open-source software company’s stock valued at $48,000 after purchasing an additional 80 shares during the period. 89.94% of the stock is owned by hedge funds and other institutional investors.
RHT has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Red Hat to $190.00 in a report on Monday, October 29th. Zacks Investment Research raised shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a research note on Monday, December 31st. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $190.00 target price (up previously from $186.00) on shares of Red Hat in a research note on Monday, December 10th. Needham & Company LLC lowered shares of Red Hat from a “buy” rating to a “hold” rating in a research note on Monday, November 5th. Finally, Jefferies Financial Group increased their target price on shares of Red Hat from $140.00 to $190.00 and gave the stock a “hold” rating in a research note on Monday, October 29th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $166.30.
In other news, EVP Michael Cunningham sold 25,000 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the sale, the executive vice president now owns 25,071 shares of the company’s stock, valued at $4,482,444.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by corporate insiders.
Shares of RHT opened at $182.83 on Friday. The stock has a market cap of $32.32 billion, a PE ratio of 79.49, a price-to-earnings-growth ratio of 4.69 and a beta of 0.55. Red Hat Inc has a 1 year low of $115.31 and a 1 year high of $183.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.26 and a current ratio of 1.26.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Monday, December 17th. The open-source software company reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.09. The business had revenue of $847.00 million for the quarter, compared to analysts’ expectations of $852.79 million. Red Hat had a net margin of 8.66% and a return on equity of 33.96%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. As a group, analysts predict that Red Hat Inc will post 2.6 EPS for the current year.
Red Hat 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.
Further Reading: What is the LIBOR?
Want to see what other hedge funds are holding RHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Red Hat Inc (NYSE:RHT).
Receive News & Ratings for Red Hat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Red Hat and related companies with MarketBeat.com's FREE daily email newsletter.