Rackspace Hosting Inc. (RAX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in Rackspace Hosting Inc. (NYSE:RAX) by 10.6% during the second quarter, Holdings Channel reports. The firm owned 14,702 shares of the hosting company’s stock after buying an additional 1,408 shares during the period. Teacher Retirement System of Texas’ holdings in Rackspace Hosting were worth $307,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC increased 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 valued at $112,000 after buying an additional 500 shares during the period. LS Investment Advisors LLC increased 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 valued at $134,000 after buying an additional 2,559 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Rackspace Hosting by 20.3% in the second quarter. Advisors Asset Management Inc. now owns 6,553 shares of the hosting company’s stock valued at $137,000 after buying an additional 1,107 shares during the period. Creative Planning increased 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 valued at $199,000 after buying an additional 1,870 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new stake in shares of Rackspace Hosting during the second quarter valued at about $215,000. 83.59% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Rackspace Hosting (NYSE:RAX)

Rackspace Hosting Inc. (NYSE:RAX) traded down 0.19% on Friday, reaching $31.75. The company had a trading volume of 2,625,004 shares. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 27.95 and a beta of 1.67. Rackspace Hosting Inc. has a 12 month low of $15.05 and a 12 month high of $32.14. The company’s 50 day moving average price is $31.58 and its 200-day moving average price is $25.84.

Rackspace Hosting (NYSE:RAX) last released its quarterly earnings data on Monday, August 8th. The hosting company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.16. The business had revenue of $489.40 million for the quarter, compared to analysts’ expectations of $521.07 million. Rackspace Hosting had a return on equity of 16.80% and a net margin of 7.39%. Rackspace Hosting’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. On average, equities analysts predict that Rackspace Hosting Inc. will post $1.07 earnings per share for the current fiscal year.

Several brokerages have issued reports on RAX. Vetr raised shares of Rackspace Hosting from a “buy” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Monday, June 27th. FBN Securities increased their price objective on shares of Rackspace Hosting from $21.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 9th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $33.00 price objective (up previously from $26.00) on shares of Rackspace Hosting in a research report on Thursday, August 11th. Zacks Investment Research downgraded shares of Rackspace Hosting from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. Finally, SunTrust Banks Inc. began coverage on shares of Rackspace Hosting in a research report on Thursday, July 21st. They issued a “neutral” rating and a $25.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.03.

About Rackspace Hosting

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.

5 Day Chart for NYSE:RAX

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