Convergence Investment Partners LLC Has $5.83 Million Stake in Hewlett Packard Enterprise (NYSE:HPE)

Convergence Investment Partners LLC grew its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 273,028 shares of the technology company’s stock after acquiring an additional 53,631 shares during the period. Hewlett Packard Enterprise accounts for approximately 1.3% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 11th biggest holding. Convergence Investment Partners LLC’s holdings in Hewlett Packard Enterprise were worth $5,829,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new position in Hewlett Packard Enterprise in the third quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in Hewlett Packard Enterprise during the third quarter worth $26,000. Hara Capital LLC acquired a new stake in Hewlett Packard Enterprise in the fourth quarter worth $28,000. Financial Management Professionals Inc. increased its stake in Hewlett Packard Enterprise by 80.3% in the third quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock valued at $29,000 after purchasing an additional 637 shares in the last quarter. Finally, Tandem Financial LLC acquired a new position in shares of Hewlett Packard Enterprise during the fourth quarter valued at about $32,000. 80.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HPE. Morgan Stanley upgraded Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $28.00 in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, December 19th. StockNews.com cut Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Raymond James upgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $23.00 to $29.00 in a research note on Monday, November 18th. Finally, Loop Capital raised their price objective on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Hewlett Packard Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Transactions at Hewlett Packard Enterprise

In related news, EVP John F. Schultz sold 262,818 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $21.62, for a total value of $5,682,125.16. Following the transaction, the executive vice president now owns 270,430 shares in the company, valued at approximately $5,846,696.60. This represents a 49.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeremy Cox sold 11,577 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $23.00, for a total transaction of $266,271.00. Following the sale, the senior vice president now directly owns 48,615 shares in the company, valued at approximately $1,118,145. This trade represents a 19.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 332,166 shares of company stock worth $7,300,629 in the last ninety days. Company insiders own 0.36% of the company’s stock.

Hewlett Packard Enterprise Stock Performance

Shares of HPE opened at $21.77 on Wednesday. The stock has a 50 day moving average of $21.97 and a 200 day moving average of $20.54. The company has a market capitalization of $28.59 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.01 and a beta of 1.19. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 20th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Friday, December 20th. Hewlett Packard Enterprise’s payout ratio is 27.37%.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.