Versor Investments LP Purchases Shares of 32,600 HP Inc. (NYSE:HPQ)

Versor Investments LP purchased a new stake in shares of HP Inc. (NYSE:HPQ - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,600 shares of the computer maker's stock, valued at approximately $1,169,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker's stock worth $3,649,919,000 after buying an additional 3,062,441 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in HP during the second quarter valued at approximately $62,672,000. DME Capital Management LP raised its position in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker's stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the period. Primecap Management Co. CA raised its position in HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker's stock valued at $786,237,000 after purchasing an additional 1,319,731 shares during the period. Finally, Legal & General Group Plc raised its position in HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker's stock valued at $375,079,000 after purchasing an additional 1,089,848 shares during the period. Institutional investors own 77.53% of the company's stock.

Insiders Place Their Bets

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

HP Stock Down 1.5 %

Shares of NYSE:HPQ traded down $0.56 during trading on Tuesday, hitting $37.11. 6,791,372 shares of the company traded hands, compared to its average volume of 7,770,828. HP Inc. has a one year low of $27.42 and a one year high of $39.52. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 2.52 and a beta of 1.07. The business's fifty day moving average is $35.80 and its 200-day moving average is $34.83.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.03). The business had revenue of $13.52 billion during 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%. HP's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. On average, analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

HPQ has been the topic of a number of recent research reports. UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. Citigroup downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. Barclays reduced their price target on HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Loop Capital reduced their price target on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on HP from $38.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, HP presently has an average rating of "Hold" and a consensus price target of $35.55.

HP Company Profile

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.