Beutel Goodman Co Ltd. Lowers stake in Symantec Corporation (SYMC)

Symantec Corporation (SYMC) : Beutel Goodman Co Ltd. reduced its stake in Symantec Corporation by 9.19% during the most recent quarter end. The investment management company now holds a total of 7,254,145 shares of Symantec Corporation which is valued at $181,788,874 after selling 734,306 shares in Symantec Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Symantec Corporation makes up approximately 1.74% of Beutel Goodman Co Ltd.’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors reduced its stake in SYMC by selling 99,623 shares or 40.05% in the most recent quarter. The Hedge Fund company now holds 149,097 shares of SYMC which is valued at $3,736,371. Symantec Corporation makes up approx 0.05% of Nisa Investment Advisors’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in SYMC in the latest quarter, The investment management firm added 48,097 additional shares and now holds a total of 196,333 shares of Symantec Corporation which is valued at $4,957,408. Symantec Corporation makes up approx 0.11% of Oregon Public Employees Retirement Fund’s portfolio.Advisory Services Network reduced its stake in SYMC by selling 138 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 4,707 shares of SYMC which is valued at $118,663. Symantec Corporation makes up approx 0.02% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in SYMC in the latest quarter, The investment management firm added 1,160,122 additional shares and now holds a total of 1,310,970 shares of Symantec Corporation which is valued at $33,285,528. Symantec Corporation makes up approx 0.14% of Bnp Paribas Arbitrage Sa’s portfolio.

Symantec Corporation closed down -0.19 points or -0.75% at $25.06 with 88,84,536 shares getting traded on Tuesday. Post opening the session at $25.26, the shares hit an intraday low of $24.83 and an intraday high of $25.26 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Symantec Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Symantec Corporation was Initiated by Guggenheim to “Buy” on Sep 15, 2016. Company shares were Resumed by Wunderlich on Sep 13, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $23 .Symantec Corporation was Upgraded by Citigroup to ” Buy” on Aug 19, 2016.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

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