Versant Capital Management Inc Acquires 297 Shares of HP Inc. (NYSE:HPQ)

Versant Capital Management Inc lifted its holdings in HP Inc. (NYSE:HPQ) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,321 shares of the computer maker’s stock after acquiring an additional 297 shares during the period. 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 hedge funds have also recently made changes to their positions in the business. Mather Group LLC. boosted its stake in HP by 6.1% during the third quarter. Mather Group LLC. now owns 7,353 shares of the computer maker’s stock valued at $264,000 after buying an additional 421 shares during the last quarter. GAMMA Investing LLC boosted its stake in HP by 22.3% during the third quarter. GAMMA Investing LLC now owns 12,624 shares of the computer maker’s stock valued at $453,000 after buying an additional 2,301 shares during the last quarter. Czech National Bank boosted its stake in HP by 21.2% during the third quarter. Czech National Bank now owns 199,343 shares of the computer maker’s stock valued at $7,150,000 after buying an additional 34,881 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in HP by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 222,291 shares of the computer maker’s stock valued at $7,974,000 after buying an additional 2,827 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in HP by 29.4% during the third quarter. Park Avenue Securities LLC now owns 40,274 shares of the computer maker’s stock valued at $1,445,000 after buying an additional 9,145 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Up 0.2 %

HPQ opened at $36.00 on Wednesday. The stock’s fifty day moving average is $34.79 and its two-hundred day moving average is $33.47. The company has a market capitalization of $35.22 billion, a P/E ratio of 12.16, a PEG ratio of 2.35 and a beta of 1.07. HP Inc. has a 52 week low of $25.59 and a 52 week high of $39.52.

HP (NYSE:HPQ) last released 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). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP announced that its board has authorized a share buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HPQ shares. Citigroup 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 Tuesday, October 1st. JPMorgan Chase & Co. increased 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. 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 lowered their price objective 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. Finally, Loop Capital lowered their price objective 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 given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.55.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

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.