Pivotal Software (NYSE:PVTL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Pivotal Software (NYSE:PVTL) from a strong-buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Pivotal Software Inc. provides platform-as-a-service solutions. The Company serves automotive, financial services, industrial, insurance, media, retail, technology and telecommunications sectors. Pivotal Software Inc. is based in San Francisco, United States. “

A number of other research analysts have also issued reports on PVTL. Citigroup boosted their target price on shares of Pivotal Software from $14.00 to $15.00 and gave the company a neutral rating in a research note on Friday, September 6th. Credit Suisse Group lowered shares of Pivotal Software from an outperform rating to a neutral rating and reduced their target price for the company from $20.00 to $15.00 in a research note on Monday, August 26th. Needham & Company LLC lowered shares of Pivotal Software from a buy rating to a hold rating in a research note on Friday, August 23rd. Wedbush reissued a neutral rating and set a $15.00 target price on shares of Pivotal Software in a research note on Thursday, August 15th. Finally, Royal Bank of Canada reissued a sector perform rating on shares of Pivotal Software in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $17.30.

NYSE PVTL opened at $14.99 on Wednesday. Pivotal Software has a one year low of $8.03 and a one year high of $24.39. The company has a 50-day simple moving average of $14.93 and a 200-day simple moving average of $14.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market capitalization of $4.13 billion, a PE ratio of -23.79 and a beta of -0.46.

Pivotal Software (NYSE:PVTL) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. Pivotal Software had a negative net margin of 18.66% and a negative return on equity of 9.92%. The business had revenue of $193.00 million during the quarter, compared to analyst estimates of $186.50 million. During the same period in the previous year, the business posted ($0.06) EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities analysts forecast that Pivotal Software will post -0.45 earnings per share for the current year.

In other news, SVP Scott Yara sold 6,196 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $14.87, for a total value of $92,134.52. Also, SVP Onsi Fakhouri sold 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $14.87, for a total transaction of $92,937.50. Insiders have sold a total of 45,491 shares of company stock valued at $676,245 over the last three months. 64.90% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Whittier Trust Co. acquired a new stake in shares of Pivotal Software in the 3rd quarter worth approximately $34,000. AdvisorNet Financial Inc acquired a new stake in shares of Pivotal Software in the 2nd quarter worth approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Pivotal Software in the 2nd quarter worth approximately $34,000. Resources Investment Advisors LLC. acquired a new stake in shares of Pivotal Software in the 2nd quarter worth approximately $45,000. Finally, Neuburgh Advisers LLC lifted 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 worth $58,000 after acquiring an additional 3,104 shares during the period. 24.89% of the stock is owned by institutional investors.

About Pivotal Software

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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