Deutsche Bank began coverage on shares of Symantec (NASDAQ:SYMC) in a research report issued on Tuesday, December 19th, MarketBeat.com reports. The firm set a “hold” rating and a $30.00 price target on the technology company’s stock. Deutsche Bank’s price objective suggests a potential upside of 4.09% from the stock’s previous close.
SYMC has been the topic of a number of other reports. Zacks Investment Research cut shares of Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Moffett Nathanson started coverage on shares of Symantec in a report on Wednesday, September 6th. They issued a “neutral” rating and a $33.00 target price on the stock. Credit Suisse Group started coverage on shares of Symantec in a report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 target price on the stock. Barclays reaffirmed a “buy” rating and issued a $36.00 target price on shares of Symantec in a report on Thursday, November 2nd. Finally, Morgan Stanley cut their target price on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Symantec has a consensus rating of “Hold” and an average target price of $32.29.
Shares of Symantec (NASDAQ:SYMC) traded up $0.05 during trading on Tuesday, hitting $28.82. 10,488,351 shares of the stock were exchanged, compared to its average volume of 5,812,922. The firm has a market cap of $17,840.00, a PE ratio of -49.69, a price-to-earnings-growth ratio of 2.98 and a beta of 1.07. Symantec has a fifty-two week low of $25.64 and a fifty-two week high of $34.20. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72.
Symantec (NASDAQ:SYMC) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. equities analysts expect that Symantec will post 1.05 EPS for the current year.
In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the sale, the executive vice president now directly owns 325,026 shares in the company, valued at approximately $8,912,212.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the sale, the chief financial officer now owns 565,319 shares in the company, valued at $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SYMC. Bessemer Group Inc. boosted its position in shares of Symantec by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after purchasing an additional 106 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Symantec in the 2nd quarter worth about $1,165,000. Legal & General Group Plc boosted its position in shares of Symantec by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 3,550,840 shares of the technology company’s stock worth $100,309,000 after buying an additional 192,635 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Symantec by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock worth $376,000 after buying an additional 291 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Symantec in the 2nd quarter worth about $1,415,000. Institutional investors own 94.74% of the company’s stock.
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security, Cloud, Data Center Security and Cloud Workload Protection products.
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