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Engineers Gate Manager LP Buys 25,356 Shares of Rackspace Hosting, Inc. (RAX) March 18th, 2016 - By Mark Watkins - 0 comments

Engineers Gate Manager LP raised its stake in shares of Rackspace Hosting, Inc. (NYSE:RAX) by 43.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,125 shares of the hosting company's stock after buying an additional 25,356 shares during the period. Engineers Gate Manager LP owned about 0.06% of Rackspace Hosting worth $2,105,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Rackspace Hosting by 3,799.7% in the fourth quarter. Nordea Investment Management AB now owns 123,700 shares of the hosting company's stock valued at $3,132,000 after buying an additional 120,528 shares during the last quarter. DIAM Co. Ltd. increased its position in shares of Rackspace Hosting by 902.8% in the fourth quarter. DIAM Co. Ltd. now owns 138,248 shares of the hosting company's stock valued at $3,500,000 after buying an additional 124,462 shares during the period. 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 valued at $8,540,000 after buying an additional 30,600 shares during the period. LGT Capital Partners acquired a new position in shar es of Rackspace Hosting during the fourth quarter valued at approximately $9,879,000. Finally, Russell Frank Co increased its position in shares of Rackspace Hosting by 500.6% in the fourth quarter. Russell Frank Co now owns 597,020 shares of the hosting company's stock valued at $15,070,000 after buying an additional 497,608 shares during the period.

Shares of Rackspace Hosting, Inc. (NYSE:RAX) traded down 0.34% during mid-day trading on Friday, reaching $20.65. The company's stock had a trading volume of 537,683 shares. Rackspace Hosting, Inc. has a 1-year low of $15.05 and a 1-year high of $56.20. The company has a market capitalization of $2.71 billion and a price-to-earnings ratio of 22.94. The company's 50 day moving average price is $20.16 and its 200-day moving average price is $24.67.

Rackspace Hosting (NYSE:RAX) last posted its quarterly earnings results on Tuesday, February 16th. The hosting company reported $0.24 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.23 by $0.01. During the same quarter in the prior year, the business earned $0.26 earnings per share. The business earned $522.80 million during the quarter, compared to analyst estimates of $521.53 million. The firm's quarterly revenue was up 10.7% on a year-over-year basis. Analysts predict that Rackspace Hosting, Inc. will post $0.96 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the company. JMP Securities decreased their target price on Rackspace Hosting from $55.00 to $44.00 in a research report on Tuesday, February 16th. Goldman Sachs reduced their price target on shares of Rackspace Hosting from $27.00 to $24.00 in a research note on Monday, February 1st. RBC Capital reiterated a "buy" rating on shares of Rackspace Hosting in a report on Saturday, January 16th. Cowen and Company reiterated a "buy" rating and set a $36.00 price objective (down previously from $52.00) on shares of Rackspace Hosting in a report on Wednesday, February 17th. Finally, Vetr cut shares of Rackspace Hosting from a "strong-buy" rating to a "buy" rating and set a $22.01 price objective for the company. in a research report on Thursday, February 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. The company currently has a consensus rating of "Hold" and a consensus target price of $33.44.

Rackspace Hosting, Inc (NYSE:RAX) 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, including for e-commerce, Web content management, Website hosting, data services, office mail and collaboration, and private clouds.

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Source: Engineers Gate Manager LP Buys 25,356 Shares of Rackspace Hosting, Inc. (RAX)