Renaissance Investment Group adds International Business Machines Corp. (IBM) to its portfolio

International Business Machines Corp. (IBM) : Renaissance Investment Group added new position in International Business Machines Corp. during the most recent quarter end. The investment management firm now holds 1,322 shares of International Business Machines Corp. which is valued at $201,631 according to a report filed by the company on Apr 1, 2016 with the SEC.International Business Machines Corp. makes up approximately 0.10% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Cacti Asset Management boosted its stake in IBM in the latest quarter, The investment management firm added 10,010 additional shares and now holds a total of 242,373 shares of International Business Machines Corp. which is valued at $37 Million. International Business Machines Corp. makes up approx 3.97% of Cacti Asset Management’s portfolio.

On the company’s financial health, International Business Machines Corp. reported $4.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 19, 2016. Analyst had a consensus of $4.81. The company had revenue of $22059.00 million for the quarter, compared to analysts expectations of $22092.92 million. The company’s revenue was down -8.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $5.81 EPS.

Many Wall Street Analysts have commented on International Business Machines Corp.. Company shares were Reiterated by RBC Capital Mkts on Apr 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 155 from a previous price target of $135 .Company shares were Reiterated by Morgan Stanley on Mar 31, 2016 to “Overweight”, Firm has raised the Price Target to $ 168 from a previous price target of $140 .International Business Machines Corp. was Upgraded by Morgan Stanley to ” Overweight” on Feb 18, 2016.

International Business Machines Corp. closed down -0.1 points or -0.07% at $149.25 with 38,46,128 shares getting traded on Monday. Post opening the session at $150.26, the shares hit an intraday low of $149.22 and an intraday high of $151.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

International Business Machines Corporation is a technology company. The Company operates in five business segments: Global Technology Services (GTS) which includes Strategic Outsourcing Integrated Technology Services Cloud and Technology Support Services and also provides information technology (IT) infrastructure and business process services; Global Business Services (GBS) which offers its services across Consulting and Systems Integration Global Process Services and Application Management Services; Software which consists of middleware and operating systems software; Systems and Technology (STG) which provides infrastructure technologies and Global Financing which provides financing solutions for products or services that are critical to the end users’ business operations. Its IBM Watson Health Cloud platform collects clinical research and social data from a range of health sources and creates a cloud-based data sharing hub.

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