Rackspace Hosting (RAX) : Ramsey Quantitative Systems scooped up 25,357 additional shares in Rackspace Hosting during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 46,430 shares of Rackspace Hosting which is valued at $1,358,078.Rackspace Hosting makes up approximately 1.43% of Ramsey Quantitative Systems’s portfolio.
Other Hedge Funds, Including , Glenmede Trust Co Na boosted its stake in RAX in the latest quarter, The investment management firm added 20,168 additional shares and now holds a total of 55,834 shares of Rackspace Hosting which is valued at $1,634,261. Rackspace Hosting makes up approx 0.01% of Glenmede Trust Co Na’s portfolio. Parametrica Management Ltd added RAX to its portfolio by purchasing 10,364 company shares during the most recent quarter which is valued at $242,207. Rackspace Hosting makes up approx 0.35% of Parametrica Management Ltd’s portfolio.Acadian Asset Management boosted its stake in RAX in the latest quarter, The investment management firm added 1,062,606 additional shares and now holds a total of 3,791,560 shares of Rackspace Hosting which is valued at $90,618,284. Rackspace Hosting makes up approx 0.45% of Acadian Asset Management’s portfolio.
Rackspace Hosting opened for trading at $27.64 and hit $28.35 on the upside on Tuesday, eventually ending the session at $27.71, with a gain of 0.73% or 0.2 points. The heightened volatility saw the trading volume jump to 20,80,257 shares. Company has a market cap of $3,486 M.
On the company’s financial health, Rackspace Hosting reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.22. The company had revenue of $523.60 million for the quarter, compared to analysts expectations of $521.08 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.
Many Wall Street Analysts have commented on Rackspace Hosting. Company shares were Reiterated by RBC Capital Mkts on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $26 .Company shares were Reiterated by FBN Securities on Aug 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 26 from a previous price target of $21 .
Rackspace Hosting Inc. (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs including for e-commerce Web content management Website hosting data services office mail and collaboration and private clouds. It also offers advisory services for technology strategy security and compliance application assessment and migration and DevOps automation. The Company also offers its solutions across a variety of IT form factors including multi-tenant public cloud dedicated single-tenant servers private cloud and hybrid cloud. It also delivers managed services and Fanatical Support across its entire product portfolio. The Company sells its services to business customers in more than 120 countries. The Company has operations located across the United States as well as in London Amsterdam Zurich Hong Kong Sydney and Mexico City.