Mercer Global Advisors Inc. ADV Purchases New Holdings in Red Hat Inc (RHT)

Mercer Global Advisors Inc. ADV purchased a new stake in Red Hat Inc (NYSE:RHT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,024 shares of the open-source software company’s stock, valued at approximately $355,000.

Several other large investors have also bought and sold shares of RHT. Oregon Public Employees Retirement Fund raised its holdings in shares of Red Hat by 11,583.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,095,436 shares of the open-source software company’s stock valued at $57,000 after purchasing an additional 10,009,030 shares in the last quarter. Norges Bank bought a new stake in shares of Red Hat in the 4th quarter valued at about $297,683,000. Neuberger Berman Group LLC raised its holdings in shares of Red Hat by 761.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,010,801 shares of the open-source software company’s stock valued at $137,752,000 after purchasing an additional 893,465 shares in the last quarter. Alpine Associates Management Inc. bought a new stake in shares of Red Hat in the 4th quarter valued at about $112,183,000. Finally, IndexIQ Advisors LLC bought a new stake in shares of Red Hat in the 4th quarter valued at about $77,523,000. Institutional investors and hedge funds own 89.25% of the company’s stock.

Several research firms have recently commented on RHT. ValuEngine lowered shares of Red Hat from a “strong-buy” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Red Hat from a “hold” rating to a “buy” rating and set a $194.00 price target for the company in a report on Monday, December 31st. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Red Hat presently has a consensus rating of “Hold” and an average price target of $168.41.

NYSE:RHT opened at $181.94 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.27 and a debt-to-equity ratio of 0.14. The firm has a market cap of $32.16 billion, a price-to-earnings ratio of 65.21, a P/E/G ratio of 4.00 and a beta of 0.54. Red Hat Inc has a fifty-two week low of $115.31 and a fifty-two week high of $183.58.

Red Hat (NYSE:RHT) last posted its quarterly earnings data on Monday, March 25th. The open-source software company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.15. The company had revenue of $879.00 million during the quarter, compared to analysts’ expectations of $885.64 million. Red Hat had a net margin of 12.91% and a return on equity of 35.35%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, equities research analysts predict that Red Hat Inc will post 3.04 EPS for the current year.

In other Red Hat news, EVP Michael Cunningham sold 25,000 shares of the company’s stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $178.79, for a total transaction of $4,469,750.00. Following the completion of the transaction, the executive vice president now directly owns 25,071 shares in the company, valued at $4,482,444.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

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About Red Hat

Red Hat, Inc provides open source software solutions to develop and offer operating system, virtualization, management, middleware, cloud, mobile, and storage technologies to various enterprises worldwide. It offers infrastructure-related solutions, such as Red Hat Enterprise Linux, an operating system platform that runs on hardware for use in hybrid cloud environments; Red Hat Satellite, a system management offering that helps to deploy, scale, and manage in hybrid cloud environments; and Red Hat Enterprise Virtualization, a software solution that allows customers to utilize and manage a common hardware infrastructure to run multiple operating systems and applications.

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Institutional Ownership by Quarter for Red Hat (NYSE:RHT)

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