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

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

Shares of NYSE:PVTL opened at $14.86 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.10. Pivotal Software has a 52-week low of $8.03 and a 52-week high of $28.92. The company has a 50 day moving average of $11.74 and a two-hundred day moving average of $16.30.

In other news, CFO Cynthia Gaylor sold 6,297 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.34, for a total transaction of $71,407.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andrew M. Cohen sold 4,240 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $11.27, for a total value of $47,784.80. The disclosure for this sale can be found here. Insiders sold 50,658 shares of company stock valued at $572,236 in the last ninety days. 64.90% of the stock is owned by corporate insiders.



Several institutional investors have recently added to or reduced their stakes in PVTL. AdvisorNet Financial Inc purchased a new position in shares of Pivotal Software during the 2nd quarter valued at approximately $32,000. BNP Paribas Arbitrage SA boosted its stake in shares of Pivotal Software by 195.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,585 shares of the company’s stock valued at $33,000 after buying an additional 1,049 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Pivotal Software during the 2nd quarter valued at approximately $34,000. Resources Investment Advisors LLC. purchased a new position in shares of Pivotal Software during the 2nd quarter valued at approximately $45,000. Finally, Neuburgh Advisers LLC boosted its stake in shares of Pivotal Software by 131.1% during the 2nd quarter. Neuburgh Advisers LLC now owns 5,472 shares of the company’s stock valued at $58,000 after buying an additional 3,104 shares during the last quarter. Institutional investors own 29.47% of the company’s stock.

PVTL has been the subject of a number of research analyst reports. Bank of America downgraded shares of Pivotal Software from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $16.00 to $12.00 in a research report on Tuesday, June 25th. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Pivotal Software in a research report on Thursday, August 15th. Barclays lowered their price objective on shares of Pivotal Software from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 5th. Needham & Company LLC downgraded shares of Pivotal Software from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley lowered their price objective on shares of Pivotal Software from $26.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.70.

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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