Nisa Investment Advisors LLC increased its stake in Red Hat Inc (NYSE:RHT) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,027 shares of the open-source software company’s stock after purchasing an additional 3,179 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Red Hat were worth $5,168,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. grew its position in shares of Red Hat by 6.8% in the second quarter. D.A. Davidson & CO. now owns 1,071 shares of the open-source software company’s stock valued at $102,000 after purchasing an additional 68 shares in the last quarter. Clear Perspective Advisors LLC purchased a new position in shares of Red Hat in the second quarter valued at $112,000. Sun Life Financial INC grew its position in shares of Red Hat by 14,837.5% in the second quarter. Sun Life Financial INC now owns 1,195 shares of the open-source software company’s stock valued at $114,000 after purchasing an additional 1,187 shares in the last quarter. BB&T Investment Services Inc. purchased a new position in shares of Red Hat in the second quarter valued at $135,000. Finally, Zions Bancorporation purchased a new position in shares of Red Hat in the third quarter valued at $164,000. Institutional investors own 94.32% of the company’s stock.
Shares of Red Hat Inc (NYSE RHT) opened at $124.59 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. Red Hat Inc has a 52 week low of $72.60 and a 52 week high of $130.93. The stock has a market capitalization of $22,293.69, a PE ratio of 64.92, a price-to-earnings-growth ratio of 3.85 and a beta of 1.20.
Red Hat (NYSE:RHT) last issued its quarterly earnings results on Tuesday, December 19th. The open-source software company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Red Hat had a return on equity of 26.23% and a net margin of 12.14%. The firm had revenue of $747.98 million during the quarter, compared to analyst estimates of $734.69 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue was up 21.6% compared to the same quarter last year. sell-side analysts forecast that Red Hat Inc will post 2.08 EPS for the current year.
Several equities analysts have recently weighed in on the company. Robert W. Baird reiterated a “hold” rating on shares of Red Hat in a research report on Wednesday, December 20th. BMO Capital Markets lifted their price target on Red Hat from $128.00 to $142.00 and gave the company a “market perform” rating in a research report on Wednesday, December 20th. BTIG Research lifted their price target on Red Hat from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Wells Fargo & Co set a $144.00 price target on Red Hat and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $120.00 price target (up from $113.00) on shares of Red Hat in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. Red Hat presently has a consensus rating of “Buy” and a consensus target price of $124.25.
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Red Hat Company Profile
Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.
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