Contour Asset Management adds Symantec Corporation (SYMC) to its portfolio

Symantec Corporation (SYMC) : Contour Asset Management added new position in Symantec Corporation during the most recent quarter end. The investment management firm now holds 4,076,338 shares of Symantec Corporation which is valued at $91,880,659 , the company said in a statement filed on Aug 15, 2016 with the SEC.Symantec Corporation makes up approximately 7.46% of Contour Asset Management’s portfolio.

Other Hedge Funds, Including , Colony Group sold out all of its stake in SYMC during the most recent quarter. The investment firm sold 33 shares of SYMC which is valued $744. Cambridge Trust Co added SYMC to its portfolio by purchasing 10,000 company shares during the most recent quarter which is valued at $218,850. Symantec Corporation makes up approx 0.02% of Cambridge Trust Co’s portfolio.Aberdeen Asset Management Plcuk reduced its stake in SYMC by selling 12,873 shares or 6.22% in the most recent quarter. The Hedge Fund company now holds 194,213 shares of SYMC which is valued at $4,059,052. Symantec Corporation makes up approx 0.01% of Aberdeen Asset Management Plcuk’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in SYMC by selling 13,723 shares or 9.14% in the most recent quarter. The Hedge Fund company now holds 136,469 shares of SYMC which is valued at $2,788,062. Symantec Corporation makes up approx 0.02% of Public Employees Retirement Association Of Colorado’s portfolio.Shell Asset Management Co boosted its stake in SYMC in the latest quarter, The investment management firm added 34,460 additional shares and now holds a total of 113,170 shares of Symantec Corporation which is valued at $2,296,219. Symantec Corporation makes up approx 0.05% of Shell Asset Management Co’s portfolio.

Symantec Corporation opened for trading at $24.14 and hit $24.17 on the upside on Thursday, eventually ending the session at $24.15, with a gain of 0.08% or 0.02 points. The heightened volatility saw the trading volume jump to 61,59,544 shares. Company has a market cap of $14,866 M.

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 Upgraded by Citigroup to ” Buy” on Aug 19, 2016. Goldman Resumed Symantec Corporation on Aug 15, 2016 to “Buy”, Price Target of the shares are set at $26.Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Hold”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .

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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