Public Employees Retirement Association of Colorado Raises Position in HP Inc. (NYSE:HPQ)

Public Employees Retirement Association of Colorado grew its position in shares of HP Inc. (NYSE:HPQ) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 134,119 shares of the computer maker’s stock after buying an additional 1,200 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in HP were worth $4,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HPQ. Wells Fargo & Company MN raised its stake in shares of HP by 42.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,672,097 shares of the computer maker’s stock worth $50,313,000 after purchasing an additional 495,332 shares during the last quarter. Corient Private Wealth LLC lifted its stake in HP by 0.4% during the 4th quarter. Corient Private Wealth LLC now owns 293,388 shares of the computer maker’s stock valued at $8,828,000 after acquiring an additional 1,197 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of HP during the 4th quarter valued at about $638,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of HP by 36.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 123,234 shares of the computer maker’s stock worth $3,708,000 after acquiring an additional 33,034 shares during the period. Finally, SageView Advisory Group LLC lifted its position in HP by 6.9% during the fourth quarter. SageView Advisory Group LLC now owns 13,889 shares of the computer maker’s stock valued at $405,000 after purchasing an additional 897 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

HPQ opened at $34.76 on Monday. The stock has a market capitalization of $34.01 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.23 and a beta of 1.07. The company has a fifty day moving average of $35.15 and a 200 day moving average of $33.06. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share 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 net margin of 5.33% and a negative return on equity of 266.37%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. On average, equities research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HPQ shares. Wells Fargo & Company lifted their target price on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Morgan Stanley reduced their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. TD Cowen raised their price objective on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Bank of America lifted their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by company insiders.

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.