Cowen Begins Coverage on Dell (NYSE:DELL)

Cowen started coverage on shares of Dell (NYSE:DELL) in a report issued on Tuesday morning, The Fly reports. The firm issued a market perform rating and a $60.00 price objective on the technology company’s stock.

Several other equities analysts also recently weighed in on the stock. Goldman Sachs Group downgraded shares of Dell from a buy rating to a neutral rating and dropped their target price for the company from $77.00 to $42.00 in a report on Monday, April 13th. Raymond James dropped their target price on shares of Dell from $55.00 to $39.00 and set an outperform rating for the company in a report on Monday, April 6th. Nomura Securities dropped their target price on shares of Dell from $48.00 to $35.00 and set a neutral rating for the company in a report on Monday, March 23rd. Citigroup dropped their target price on shares of Dell from $65.00 to $40.00 and set a buy rating for the company in a report on Monday, March 16th. Finally, Nomura Instinet raised their price target on shares of Dell from $35.00 to $55.00 and gave the stock a neutral rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Dell has an average rating of Hold and a consensus price target of $53.00.

Shares of DELL opened at $54.28 on Tuesday. The company has a 50-day simple moving average of $47.69 and a 200-day simple moving average of $45.62. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 14.92. The company has a market capitalization of $40.21 billion, a PE ratio of 8.63, a P/E/G ratio of 0.84 and a beta of 0.88. Dell has a 52-week low of $25.51 and a 52-week high of $59.17.

Dell (NYSE:DELL) last announced its quarterly earnings results on Thursday, May 28th. The technology company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.33. Dell had a net margin of 5.13% and a return on equity of 141.86%. The business had revenue of $21.90 billion during the quarter, compared to the consensus estimate of $20.65 billion. During the same quarter last year, the firm posted $1.45 EPS. The business’s revenue was up .0% compared to the same quarter last year. On average, research analysts anticipate that Dell will post 5.4 EPS for the current year.

In related news, insider Karen H. Quintos sold 37,933 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $49.19, for a total value of $1,865,924.27. Following the sale, the insider now directly owns 68,201 shares of the company’s stock, valued at $3,354,807.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard D. Elias sold 16,004 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $800,200.00. Following the completion of the sale, the insider now directly owns 524,304 shares in the company, valued at $26,215,200. The disclosure for this sale can be found here. Insiders sold 97,774 shares of company stock worth $4,653,989 over the last three months. Corporate insiders own 48.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Verus Capital Partners LLC purchased a new position in Dell in the fourth quarter valued at approximately $34,000. Key Financial Inc purchased a new position in Dell in the first quarter valued at approximately $31,000. tru Independence LLC raised its holdings in Dell by 746.0% in the first quarter. tru Independence LLC now owns 846 shares of the technology company’s stock valued at $34,000 after buying an additional 746 shares during the period. Bainco International Investors purchased a new position in Dell in the first quarter valued at approximately $40,000. Finally, Engrave Wealth Partners LLC bought a new stake in shares of Dell in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 24.91% of the company’s stock.

About Dell

Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.

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