Pacific Alternative Asset Management Company adds EMC Corporation (EMC) to its portfolio

EMC Corporation (EMC) : Pacific Alternative Asset Management Company added new position in EMC Corporation during the most recent quarter end. The investment management firm now holds 2,386,979 shares of EMC Corporation which is valued at $65.3 Million , the company said in a statement filed on May 12, 2016 with the SEC.EMC Corporation makes up approximately 44.97% of Pacific Alternative Asset Management Company’s portfolio.

Other Hedge Funds, Including , Investec Asset Management Ltd reduced its stake in EMC by selling 42,687 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 6,071,533 shares of EMC which is valued at $166.2 Million. EMC Corporation makes up approx 0.90% of Investec Asset Management Ltd’s portfolio.Sfe Investment Counsel reduced its stake in EMC by selling 21,243 shares or 6.9% in the most recent quarter. The Hedge Fund company now holds 286,503 shares of EMC which is valued at $7.8 Million. EMC Corporation makes up approx 3.65% of Sfe Investment Counsel’s portfolio.Northern Capital Management boosted its stake in EMC in the latest quarter, The investment management firm added 26,000 additional shares and now holds a total of 158,448 shares of EMC Corporation which is valued at $4.2 Million. EMC Corporation makes up approx 1.85% of Northern Capital Management’s portfolio.Indexiq Advisors boosted its stake in EMC in the latest quarter, The investment management firm added 87,519 additional shares and now holds a total of 270,772 shares of EMC Corporation which is valued at $7.2 Million. EMC Corporation makes up approx 0.48% of Indexiq Advisors’s portfolio.Hyman Charles D reduced its stake in EMC by selling 5,500 shares or 8.1% in the most recent quarter. The Hedge Fund company now holds 62,429 shares of EMC which is valued at $1.7 Million. EMC Corporation makes up approx 0.26% of Hyman Charles D’s portfolio.

EMC Corporation opened for trading at $27.72 and hit $27.82 on the upside on Friday, eventually ending the session at $27.81, with a gain of 0.58% or 0.16 points. The heightened volatility saw the trading volume jump to 81,35,136 shares. Company has a market cap of $54,318 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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