Convergence Investment Partners LLC cut its holdings in Hewlett Packard Enterprise Co (NYSE:HPE) by 43.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 91,280 shares of the technology company’s stock after selling 68,777 shares during the period. Convergence Investment Partners LLC’s holdings in Hewlett Packard Enterprise were worth $888,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Key Financial Inc acquired a new position in shares of Hewlett Packard Enterprise in the first quarter valued at about $31,000. Engrave Wealth Partners LLC grew its stake in Hewlett Packard Enterprise by 336.0% during the second quarter. Engrave Wealth Partners LLC now owns 3,488 shares of the technology company’s stock worth $33,000 after buying an additional 2,688 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in Hewlett Packard Enterprise during the second quarter worth about $42,000. Modus Advisors LLC acquired a new stake in Hewlett Packard Enterprise during the second quarter worth about $47,000. Finally, Elmwood Wealth Management Inc. acquired a new stake in Hewlett Packard Enterprise during the first quarter worth about $59,000. Institutional investors and hedge funds own 80.40% of the company’s stock.
Hewlett Packard Enterprise stock traded up $0.25 during mid-day trading on Friday, hitting $9.87. 24,919,644 shares of the stock were exchanged, compared to its average volume of 8,771,484. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 2.03 and a beta of 1.33. Hewlett Packard Enterprise Co has a 12 month low of $7.43 and a 12 month high of $17.59. The company has a quick ratio of 0.72, a current ratio of 0.89 and a debt-to-equity ratio of 0.71. The firm’s fifty day simple moving average is $9.63 and its two-hundred day simple moving average is $11.01.
Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Thursday, May 21st. The technology company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.07). The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.28 billion. Hewlett Packard Enterprise had a negative net margin of 0.13% and a positive return on equity of 12.35%. Hewlett Packard Enterprise’s revenue was down 16.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. As a group, analysts forecast that Hewlett Packard Enterprise Co will post 1.25 earnings per share for the current fiscal year.
HPE has been the topic of a number of analyst reports. Raymond James downgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating in a research note on Friday, May 22nd. Zacks Investment Research upgraded shares of Hewlett Packard Enterprise from a “strong sell” rating to a “hold” rating and set a $9.85 price objective on the stock in a research note on Tuesday, June 9th. Barclays dropped their target price on shares of Hewlett Packard Enterprise from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, May 22nd. Susquehanna Bancshares reissued a “hold” rating and issued a $10.00 target price on shares of Hewlett Packard Enterprise in a report on Monday, July 13th. Finally, UBS Group dropped their target price on shares of Hewlett Packard Enterprise from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.64.
Hewlett Packard Enterprise Profile
Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers for multi-workload computing; mission-critical servers; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and disk products, such as HPE MSA and HPE XP.
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