Accident Compensation Corp buys $8.9 Million stake in EMC Corporation (EMC)

EMC Corporation (EMC) : Accident Compensation Corp scooped up 66,000 additional shares in EMC Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 323,389 shares of EMC Corporation which is valued at $8.9 Million.EMC Corporation makes up approximately 2.44% of Accident Compensation Corp’s portfolio.

Other Hedge Funds, Including , Trexquant Investment Lp reduced its stake in EMC by selling 14,409 shares or 61.03% in the most recent quarter. The Hedge Fund company now holds 9,200 shares of EMC which is valued at $251,804. EMC Corporation makes up approx 0.03% of Trexquant Investment Lp’s portfolio.Penserra Capital Management boosted its stake in EMC in the latest quarter, The investment management firm added 582 additional shares and now holds a total of 1,880 shares of EMC Corporation which is valued at $51,456. EMC Corporation makes up approx 0.01% of Penserra Capital Management’s portfolio.Alerus Investment Advisors Corp boosted its stake in EMC in the latest quarter, The investment management firm added 13,700 additional shares and now holds a total of 155,208 shares of EMC Corporation which is valued at $4.1 Million. EMC Corporation makes up approx 0.72% of Alerus Investment Advisors Corp’s portfolio.Huntington National Bank boosted its stake in EMC in the latest quarter, The investment management firm added 340,196 additional shares and now holds a total of 863,200 shares of EMC Corporation which is valued at $22.5 Million. EMC Corporation makes up approx 0.57% of Huntington National Bank’s portfolio.

EMC Corporation opened for trading at $27.36 and hit $27.85 on the upside on Monday, eventually ending the session at $27.78, with a gain of 1.50% or 0.41 points. The heightened volatility saw the trading volume jump to 1,95,74,554 shares. Company has a market cap of $54,260 M.

On the company’s financial health, EMC Corporation reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.33. The company had revenue of $5475.00 million for the quarter, compared to analysts expectations of $5640.05 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on EMC Corporation. Company shares were Reiterated by Deutsche Bank on Apr 21, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Company shares were Reiterated by Maxim Group on Apr 20, 2016 to “Hold”, Firm has raised the Price Target to $ 31.50 from a previous price target of $31 .EMC Corporation was Downgraded by Raymond James to ” Outperform” on Apr 7, 2016.

EMC Corporation (EMC) is a service provider to information technology (IT) operations to an as a service model (ITaaS). It develops delivers and supports the IT industry’s range of information infrastructure and virtual infrastructure technologies solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure VMware Virtual Infrastructure and Pivotal. EMC Information Infrastructure business consists of three divisons: Information Storage Enterprise Content Division and RSA Information Security. EMC Information Infrastructure provides a foundation for organizations to store manage protect analyze and secure quantities of information. VMware develops and markets its product and service offerings within three main product groups: Software-Defined Data Center Cloud Services and End-User Computing. Pivotal’s three offerings include the Pivotal Big Data Suite Pivotal Labs and Pivotal Cloud Foundry.

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