Red Hat Inc (RHT) : Wcg Management added new position in Red Hat Inc during the most recent quarter end. The investment management firm now holds 69,000 shares of Red Hat Inc which is valued at $5,062,530 , the company said in a statement filed on Apr 25, 2016 with the SEC.Red Hat Inc makes up approximately 5.81% of Wcg Management’s portfolio.
Red Hat Inc opened for trading at $73.45 and hit $74.55 on the upside on Monday, eventually ending the session at $74.32, with a gain of 1.29% or 0.95 points. The heightened volatility saw the trading volume jump to 10,74,617 shares. Company has a market cap of $13,484 M.
Other Hedge Funds, Including , Gateway Investment Advisers reduced its stake in RHT by selling 5,880 shares or 29.85% in the most recent quarter. The Hedge Fund company now holds 13,816 shares of RHT which is valued at $1,034,128. Red Hat Inc makes up approx 0.01% of Gateway Investment Advisers’s portfolio. Atalanta Sosnoff Capital sold out all of its stake in RHT during the most recent quarter. The investment firm sold 96,170 shares of RHT which is valued $7,180,052. Integral Derivatives sold out all of its stake in RHT during the most recent quarter. The investment firm sold 12,422 shares of RHT which is valued $927,427.
On the company’s financial health, Red Hat Inc reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Mar 22, 2016. Analyst had a consensus of $0.47. The company had revenue of $544.00 million for the quarter, compared to analysts expectations of $537.50 million. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.
Many Wall Street Analysts have commented on Red Hat Inc. Red Hat Inc was Upgraded by Pacific Crest to ” Overweight” on Apr 14, 2016. Shares were Reiterated by BMO Capital Markets on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 88 from a previous price target of $90 .Company shares were Reiterated by Drexel Hamilton on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 105 from a previous price target of $98 .
Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.