Red Hat Inc (RHT) : Reliance Trust Co Of Delaware scooped up 40 additional shares in Red Hat Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 23,276 shares of Red Hat Inc which is valued at $1,796,907.Red Hat Inc makes up approximately 0.16% of Reliance Trust Co Of Delaware’s portfolio.
Other Hedge Funds, Including , National Pension Service boosted its stake in RHT in the latest quarter, The investment management firm added 12,387 additional shares and now holds a total of 146,201 shares of Red Hat Inc which is valued at $11,286,717. Red Hat Inc makes up approx 0.09% of National Pension Service’s portfolio.Boltwood Capital Management boosted its stake in RHT in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 6,615 shares of Red Hat Inc which is valued at $525,429. Red Hat Inc makes up approx 0.42% of Boltwood Capital Management’s portfolio.Washington Trust Bank reduced its stake in RHT by selling 39 shares or 72.22% in the most recent quarter. The Hedge Fund company now holds 15 shares of RHT which is valued at $1,191.
Red Hat Inc opened for trading at $77.26 and hit $77.93 on the upside on Friday, eventually ending the session at $77.2, with a gain of 0.48% or 0.37 points. The heightened volatility saw the trading volume jump to 11,84,225 shares. Company has a market cap of $13,865 M.
On the company’s financial health, Red Hat Inc reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Sep 21, 2016. Analyst had a consensus of $0.54. The company had revenue of $599.80 million for the quarter, compared to analysts expectations of $589.97 million. The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS.
Many Wall Street Analysts have commented on Red Hat Inc. Company shares were Reiterated by BMO Capital Markets on Sep 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 89 from a previous price target of $85 .
Red Hat Inc. is a provider of open source software solutions using a community-powered approach to develop and offer operating system virtualization middleware storage and cloud technologies. The Company employs an open source development model. The open source development model allows it to use the collective input resources and knowledge of a global community of contributors who can collaborate to develop maintain and enhance software because the human-readable source code for that software is publicly available and licenses permit modification. The Company distributes its software offerings under open source licenses that permit access to the software’s human-readable source code. The Company provides its software offerings primarily under annual or multi-year subscriptions as well as on-demand through cloud service providers.