Advisors Asset Management Inc. boosted its position in Rackspace Hosting Inc. (NYSE:RAX) by 20.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,553 shares of the hosting company’s stock after buying an additional 1,107 shares during the period. Advisors Asset Management Inc.’s holdings in Rackspace Hosting were worth $137,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Rackspace Hosting by 10.3% in the second quarter. Advisory Services Network LLC now owns 5,361 shares of the hosting company’s stock worth $112,000 after buying an additional 500 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Rackspace Hosting by 66.2% in the second quarter. LS Investment Advisors LLC now owns 6,426 shares of the hosting company’s stock worth $134,000 after buying an additional 2,559 shares during the period. Creative Planning boosted its stake in shares of Rackspace Hosting by 24.4% in the second quarter. Creative Planning now owns 9,530 shares of the hosting company’s stock worth $199,000 after buying an additional 1,870 shares during the period. Zweig DiMenna Associates LLC purchased a new stake in shares of Rackspace Hosting during the second quarter worth about $215,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Rackspace Hosting during the second quarter worth about $216,000. Institutional investors and hedge funds own 83.62% of the company’s stock.
Rackspace Hosting Inc. (NYSE:RAX) traded up 0.13% on Friday, reaching $31.74. 4,204,277 shares of the company traded hands. The firm has a 50 day moving average of $31.06 and a 200-day moving average of $25.47. The stock has a market capitalization of $3.99 billion, a PE ratio of 27.94 and a beta of 1.67. Rackspace Hosting Inc. has a one year low of $15.05 and a one year high of $32.14.
Rackspace Hosting (NYSE:RAX) last issued its earnings results on Monday, August 8th. The hosting company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.16. The firm earned $489.40 million during the quarter, compared to the consensus estimate of $521.07 million. Rackspace Hosting had a return on equity of 16.80% and a net margin of 7.39%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. On average, analysts anticipate that Rackspace Hosting Inc. will post $1.07 EPS for the current year.
A number of brokerages recently issued reports on RAX. Zacks Investment Research upgraded shares of Rackspace Hosting from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Royal Bank Of Canada increased their target price on shares of Rackspace Hosting from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Tigress Financial cut shares of Rackspace Hosting from a “strong-buy” rating to a “neutral” rating in a research report on Monday, August 29th. Vetr upgraded shares of Rackspace Hosting from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, August 2nd. Finally, SunTrust Banks Inc. began coverage on shares of Rackspace Hosting in a research report on Thursday, July 21st. They set a “neutral” rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $28.64.
Rackspace Hosting Company Profile
Rackspace Hosting, Inc (Rackspace) operates in the managed cloud segment of the business information technology (IT) market. The Company offers a portfolio of integrated IT solutions for common business needs. The Company offers services for certain applications, including e-commerce and Web content management sites, business-productivity applications, such as e-mail and collaboration, and data stores.
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