Pivotal Software (NYSE:PVTL) Downgraded by Zacks Investment Research

Pivotal Software (NYSE:PVTL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, 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. “

Several other research firms have also issued reports on PVTL. Needham & Company LLC lowered Pivotal Software from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Wedbush restated a “neutral” rating and set a $15.00 price target on shares of Pivotal Software in a research report on Thursday, August 15th. William Blair downgraded Pivotal Software from an “outperform” rating to a “market perform” rating in a research report on Friday, August 23rd. Credit Suisse Group downgraded Pivotal Software from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $15.00 in a research report on Monday, August 26th. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of Pivotal Software in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Pivotal Software currently has a consensus rating of “Hold” and a consensus price target of $17.30.

NYSE:PVTL opened at $15.02 on Wednesday. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of -23.84 and a beta of -0.46. Pivotal Software has a 52-week low of $8.03 and a 52-week high of $24.39. The stock has a fifty day moving average of $14.94 and a 200 day moving average of $14.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.42 and a current ratio of 2.42.

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

In other news, President William Cook sold 12,392 shares of Pivotal Software stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $14.87, for a total value of $184,269.04. Also, SVP Scott Yara sold 6,196 shares of Pivotal Software stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $14.87, for a total value of $92,134.52. Insiders have sold 45,491 shares of company stock worth $676,245 in the last 90 days. Company insiders own 64.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new position in Pivotal Software in the second quarter worth approximately $107,000. Stonebridge Capital Management Inc. purchased a new stake in shares of Pivotal Software in the second quarter worth approximately $114,000. AdvisorNet Financial Inc purchased a new stake in shares of Pivotal Software in the second quarter worth approximately $32,000. Sarasin & Partners LLP purchased a new stake in shares of Pivotal Software in the second quarter worth approximately $2,950,000. Finally, Violich Capital Management Inc. purchased a new stake in shares of Pivotal Software in the second quarter worth approximately $126,000. Hedge funds and other institutional investors own 24.37% 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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