Decatur Capital Management Inc. Trims Position in Red Hat Inc (RHT)

Decatur Capital Management Inc. trimmed its holdings in shares of Red Hat Inc (NYSE:RHT) by 19.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,595 shares of the open-source software company’s stock after selling 13,100 shares during the period. Red Hat comprises approximately 1.7% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 27th biggest position. Decatur Capital Management Inc.’s holdings in Red Hat were worth $7,168,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Red Hat by 13.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,438 shares of the open-source software company’s stock worth $1,559,000 after purchasing an additional 1,378 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Red Hat in the 3rd quarter worth approximately $1,619,000. Stratos Wealth Partners LTD. acquired a new position in Red Hat in the 3rd quarter worth approximately $146,000. TD Asset Management Inc. boosted its stake in Red Hat by 24.3% in the 3rd quarter. TD Asset Management Inc. now owns 293,181 shares of the open-source software company’s stock worth $39,955,000 after purchasing an additional 57,369 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Red Hat by 28.5% in the 3rd quarter. Private Advisor Group LLC now owns 5,307 shares of the open-source software company’s stock worth $723,000 after purchasing an additional 1,178 shares during the period. Hedge funds and other institutional investors own 95.77% of the company’s stock.

A number of equities analysts recently commented on RHT shares. Barclays raised their price objective on shares of Red Hat from $160.00 to $166.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. OTR Global lowered shares of Red Hat to a “positive” rating in a research note on Thursday, September 13th. Royal Bank of Canada decreased their price objective on shares of Red Hat to $169.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. JPMorgan Chase & Co. lowered shares of Red Hat from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a research note on Tuesday, September 18th. Finally, BMO Capital Markets decreased their price objective on shares of Red Hat from $177.00 to $158.00 and set an “outperform” rating for the company in a research note on Thursday, September 20th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $163.48.

Shares of NYSE:RHT opened at $173.31 on Tuesday. The firm has a market cap of $30.31 billion, a price-to-earnings ratio of 75.35, a P/E/G ratio of 4.47 and a beta of 0.71. Red Hat Inc has a 12-month low of $115.31 and a 12-month high of $177.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.23 and a quick ratio of 1.23.

Red Hat (NYSE:RHT) last released its quarterly earnings results on Wednesday, September 19th. The open-source software company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.03. The business had revenue of $822.75 million for the quarter, compared to the consensus estimate of $828.12 million. Red Hat had a net margin of 9.15% and a return on equity of 31.80%. Red Hat’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Equities analysts forecast that Red Hat Inc will post 2.57 EPS for the current fiscal year.

In other news, CEO James M. Whitehurst sold 2,513 shares of the firm’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total transaction of $314,200.39. Following the transaction, the chief executive officer now owns 361,627 shares in the company, valued at approximately $45,214,223.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Delisa Alexander sold 960 shares of the firm’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $125.03, for a total transaction of $120,028.80. Following the transaction, the executive vice president now owns 33,217 shares in the company, valued at approximately $4,153,121.51. The disclosure for this sale can be found here. Insiders have sold a total of 3,631 shares of company stock worth $453,984 in the last 90 days. 0.58% of the stock is owned by insiders.

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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.

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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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