Verition Fund Management LLC Grows Position in Qualtrics International Inc. (NASDAQ:XM)

Verition Fund Management LLC raised its position in Qualtrics International Inc. (NASDAQ:XMGet Rating) by 627.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,159 shares of the company’s stock after purchasing an additional 44,990 shares during the quarter. Verition Fund Management LLC’s holdings in Qualtrics International were worth $1,489,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of XM. Northern Trust Corp raised its holdings in shares of Qualtrics International by 47.0% in the 4th quarter. Northern Trust Corp now owns 169,812 shares of the company’s stock worth $6,011,000 after purchasing an additional 54,258 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Qualtrics International by 51.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,966 shares of the company’s stock valued at $16,389,000 after buying an additional 158,216 shares during the period. PEAK6 Investments LLC raised its holdings in shares of Qualtrics International by 160.2% during the 4th quarter. PEAK6 Investments LLC now owns 27,630 shares of the company’s stock valued at $978,000 after buying an additional 17,010 shares during the period. Geode Capital Management LLC raised its holdings in shares of Qualtrics International by 56.7% during the 4th quarter. Geode Capital Management LLC now owns 926,980 shares of the company’s stock valued at $32,815,000 after buying an additional 335,388 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Qualtrics International by 110.7% during the 4th quarter. Invesco Ltd. now owns 2,885,549 shares of the company’s stock valued at $102,149,000 after buying an additional 1,515,861 shares during the period. 21.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on XM shares. Barclays dropped their target price on Qualtrics International from $30.00 to $16.00 in a report on Monday, July 18th. Morgan Stanley dropped their target price on Qualtrics International from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, July 21st. Canaccord Genuity Group dropped their price objective on Qualtrics International from $34.00 to $16.00 in a report on Thursday, July 21st. HSBC reduced their target price on Qualtrics International from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Finally, The Goldman Sachs Group dropped their price target on shares of Qualtrics International from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Qualtrics International presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.12.

Qualtrics International Stock Performance

Shares of NASDAQ:XM opened at $11.10 on Tuesday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -5.26 and a beta of 1.62. Qualtrics International Inc. has a 1-year low of $10.74 and a 1-year high of $48.28. The company’s fifty day moving average is $12.66 and its two-hundred day moving average is $17.31.

Qualtrics International (NASDAQ:XMGet Rating) last issued its earnings results on Wednesday, July 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.07). The business had revenue of $356.37 million for the quarter, compared to analyst estimates of $344.98 million. Qualtrics International had a negative return on equity of 75.46% and a negative net margin of 91.22%. The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the company posted ($0.51) earnings per share. Sell-side analysts expect that Qualtrics International Inc. will post -1.75 EPS for the current fiscal year.

Qualtrics International Company Profile

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Qualtrics International Inc operates an experience management platform to manage customer, employee, product, and brand experiences worldwide. The company offers The Qualtrics Experience Management Platform, a system of action that guides users with specific instructions for improvement and automated actions to improve experiences, as well as for listening, understanding, and taking action on both structured and unstructured data.

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Institutional Ownership by Quarter for Qualtrics International (NASDAQ:XM)

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