Nexus Investment Management Lowers stake in HP Inc (HPQ)

HP Inc (HPQ) : Nexus Investment Management reduced its stake in HP Inc by 0.5% during the most recent quarter end. The investment management company now holds a total of 418,300 shares of HP Inc which is valued at $5,471,364 after selling 2,100 shares in HP Inc , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.HP Inc makes up approximately 1.03% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Kistler-tiffany Companies boosted its stake in HPQ in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 1,326 shares of HP Inc which is valued at $17,344. HP Inc makes up approx 0.01% of Kistler-tiffany Companies’s portfolio.

HP Inc opened for trading at $13.17 and hit $13.3 on the upside on Monday, eventually ending the session at $13.16, with a gain of 0.61% or 0.08 points. The heightened volatility saw the trading volume jump to 97,30,143 shares. Company has a market cap of $22,512 M.

On the company’s financial health, HP Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 25, 2016. Analyst had a consensus of $0.38. The company had revenue of $11588.00 million for the quarter, compared to analysts expectations of $11708.63 million. The company’s revenue was down -10.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

HP Inc. formerly Hewlett-Packard Company is a provider of products technologies software solutions and services to individual consumers small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems Printing the Enterprise Group Enterprise Services Software HP Financial Services and Corporate Investments. It offers personal computing and other access devices; imaging and printing related products and services; enterprise information technology (IT) infrastructure including enterprise server and storage technology networking products and solutions technology support and maintenance; multi-vendor customer services including technology consulting outsourcing and support services across infrastructure applications and business process domains and software products and solution including application testing and delivery software big data analytics information governance and IT Operations Management.

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