Rackspace Hosting Inc. (RAX) Stake Increased by State Street Corp
State Street Corp boosted its position in Rackspace Hosting Inc. (NYSE:RAX) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,170,689 shares of the hosting company's stock after buying an additional 33,179 shares during the period. State Street Corp owned about 2.42% of Rackspace Hosting worth $68,456,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of RAX. California Public Employees Retirement System increased its position in shares of Rackspace Hosting by 10.0% in the fourth quarter. California Public Employees Retirement System now owns 337,300 shares of the hosting company's stock worth $8,540,000 after buying an additional 30,600 shares during the last quarter. South Dakota Investment Council increased its position in Rackspace Hosting by 61.8% in the fourth quarter. South Dakota Investment Council now owns 112,800 shares of the hosting company's stock valued at $2,856,000 after buying an additional 43,100 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its position in Rackspace Hosting by 43.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 73,834 shares of the hosting company's stock valued at $1,871,000 after buying an additional 22,315 shares in the last quarter. Cor nerstone Capital Management Holdings LLC. increased its position in Rackspace Hosting by 170.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 107,429 shares of the hosting company's stock valued at $2,720,000 after buying an additional 67,737 shares in the last quarter. Finally, Cowen Group Inc. increased its position in Rackspace Hosting by 0.8% in the fourth quarter. Cowen Group Inc. now owns 193,291 shares of the hosting company's stock valued at $4,894,000 after buying an additional 1,486 shares in the last quarter.
Rackspace Hosting Inc. (NYSE:RAX) traded up 0.95% during mid-day trading on Friday, reaching $23.37. 1,383,227 shares of the company's stock were exchanged. Rackspace Hosting Inc. has a one year low of $15.05 and a one year high of $35.13. The stock has a 50-day moving average of $22.58 and a 200-day moving average of $21.94. The stock has a market cap of $2.94 billion and a price-to-earnings ratio of 21.74.
Rackspace Hosting (NYSE:RAX) last posted its earnings results on Monday, May 9th. The hosting company reported $0.34 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.22 by $0.12. The company had revenue of $518 million for the quarter, compared to analysts' expectations of $519.08 million. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. On average, equities research analysts anticipate that Rackspace Hosting Inc. will post $1.06 earnings per share for the current year.
RAX has been the topic of several research reports. Wells Fargo & Co. reiterated a "buy" rating on shares of Rackspace Hosting in a report on Saturday, June 4th. Credit Agricole SA downgraded shares of Rackspace Hosting from an "underperform" rating to a "sell" rating and set a $17.00 price objective on the stock. in a report on Thursday, March 31st. Royal Bank Of Canada reiterated a "buy" rating and issued a $26.00 price objective on shares of Rackspace Hosting in a report on Tuesday, May 10th. Jefferies Group reiterated a "hold" rating and issued a $21.00 price objective on shares of Rackspace Hosting in a report on Tuesday, May 10th. Finally, Vetr downgraded shares of Rackspace Hosting from a "buy" rating to a "sell" rating and set a $24.00 price objective on the stock. in a report on Tuesday, June 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and on e has issued a strong buy rating to the company. Rackspace Hosting has a consensus rating of "Hold" and a consensus target price of $29.74.
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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