Pivotal Software (NYSE:PVTL) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Pivotal Software (NYSE:PVTL) issued its earnings results on Wednesday. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04, Morningstar.com reports. The business had revenue of $193.00 million for the quarter, compared to analyst estimates of $186.50 million. Pivotal Software had a negative return on equity of 10.02% and a negative net margin of 18.66%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS.

Shares of PVTL stock opened at $14.95 on Friday. The business’s 50 day moving average is $11.64 and its two-hundred day moving average is $16.33. Pivotal Software has a twelve month low of $8.03 and a twelve month high of $28.92. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.10.

A number of research firms recently issued reports on PVTL. KeyCorp dropped their price target on Pivotal Software from $27.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 5th. Zacks Investment Research downgraded Pivotal Software from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Credit Suisse Group downgraded Pivotal Software from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $15.00 in a research note on Monday, August 26th. Morgan Stanley dropped their price target on Pivotal Software from $26.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 5th. Finally, William Blair downgraded Pivotal Software from an “outperform” rating to a “market perform” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $18.00.

In other Pivotal Software news, SVP Andrew M. Cohen sold 4,240 shares of Pivotal Software stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.27, for a total value of $47,784.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President William Cook sold 12,736 shares of Pivotal Software stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $11.25, for a total value of $143,280.00. The disclosure for this sale can be found here. Insiders sold a total of 50,658 shares of company stock worth $572,236 over the last quarter. Company insiders own 64.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its stake in shares of Pivotal Software by 195.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $33,000 after purchasing an additional 1,049 shares during the last quarter. AdvisorNet Financial Inc purchased a new position in shares of Pivotal Software in the 2nd quarter valued at approximately $32,000. Pearl River Capital LLC grew its stake in shares of Pivotal Software by 406.8% in the 1st quarter. Pearl River Capital LLC now owns 3,776 shares of the company’s stock valued at $78,000 after purchasing an additional 3,031 shares during the last quarter. Neuburgh Advisers LLC grew its stake in shares of Pivotal Software by 131.1% in the 2nd quarter. Neuburgh Advisers LLC now owns 5,472 shares of the company’s stock valued at $58,000 after purchasing an additional 3,104 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pivotal Software in the 2nd quarter valued at approximately $34,000. Institutional investors own 29.47% of the company’s stock.

Pivotal Software Company Profile

Pivotal Software, Inc, together with its subsidiaries, provides an integrated solution that combines a cloud-native application platform and services in the United States. Its cloud-native platform, Pivotal Cloud Foundry (PCF), accelerates and streamlines software development by reducing the complexity of building, deploying, and operating modern applications.

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Earnings History for Pivotal Software (NYSE:PVTL)

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