HP Inc. (NYSE:HPQ) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc boosted its position in shares of HP Inc. (NYSE:HPQ) by 5.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,321 shares of the computer maker’s stock after acquiring an additional 297 shares during the quarter. Versant Capital Management Inc’s holdings in HP were worth $191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. WMG Financial Advisors LLC raised its stake in shares of HP by 4.2% during the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after buying an additional 315 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of HP by 2.9% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after buying an additional 345 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of HP by 11.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker’s stock valued at $125,000 after buying an additional 372 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of HP by 1.2% during the 1st quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker’s stock valued at $1,034,000 after buying an additional 390 shares during the last quarter. Finally, Abich Financial Wealth Management LLC raised its stake in shares of HP by 9.6% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 4,506 shares of the computer maker’s stock valued at $158,000 after buying an additional 395 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on HPQ. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Tuesday, October 1st. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. Barclays cut their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Loop Capital cut their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

HP Trading Up 0.2 %

NYSE:HPQ opened at $36.00 on Wednesday. HP Inc. has a 12 month low of $25.59 and a 12 month high of $39.52. The stock has a 50 day moving average of $34.79 and a two-hundred day moving average of $33.47. The firm has a market cap of $35.22 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. HP’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. On average, research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.