Frontier Capital Management Co. LLC lifted its position in Pivotal Software (NASDAQ:PVTL) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,659 shares of the company’s stock after purchasing an additional 17,395 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Pivotal Software were worth $3,725,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PVTL. FMR LLC increased its holdings in shares of Pivotal Software by 179.1% in the fourth quarter. FMR LLC now owns 5,186,120 shares of the company’s stock worth $84,793,000 after purchasing an additional 3,328,120 shares during the period. Bank of America Corp DE increased its stake in Pivotal Software by 1,232.4% in the fourth quarter. Bank of America Corp DE now owns 2,827,457 shares of the company’s stock valued at $46,229,000 after acquiring an additional 2,615,254 shares during the last quarter. SQN Investors LP increased its stake in Pivotal Software by 76.7% in the fourth quarter. SQN Investors LP now owns 3,049,792 shares of the company’s stock valued at $49,864,000 after acquiring an additional 1,323,443 shares during the last quarter. Norges Bank bought a new position in Pivotal Software in the fourth quarter valued at $15,533,000. Finally, Two Sigma Investments LP increased its stake in Pivotal Software by 729.3% in the fourth quarter. Two Sigma Investments LP now owns 706,308 shares of the company’s stock valued at $11,548,000 after acquiring an additional 621,143 shares during the last quarter.
A number of research analysts recently commented on the company. Zacks Investment Research raised Pivotal Software from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Saturday, March 16th. Wedbush increased their target price on Pivotal Software from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Bank of America restated a “neutral” rating and set a $25.00 price target (up from $22.00) on shares of Pivotal Software in a research report on Friday, March 15th. Barclays cut their price target on shares of Pivotal Software from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, March 15th. Finally, Morgan Stanley increased their target price on shares of Pivotal Software from $24.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $25.33.
NASDAQ:PVTL opened at $20.43 on Tuesday. Pivotal Software has a 12 month low of $14.43 and a 12 month high of $31.24.
Pivotal Software (NASDAQ:PVTL) last posted its earnings results on Thursday, March 14th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). The business had revenue of $169.20 million for the quarter, compared to analyst estimates of $170.21 million. The firm’s quarterly revenue was up 27.0% on a year-over-year basis.
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Pivotal Software 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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