Atlanta Capital Management Co. L L C decreased its stake in The Advisory Board Company (NASDAQ:ABCO) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,194 shares of the business services provider’s stock after selling 7,245 shares during the period. Atlanta Capital Management Co. L L C owned approximately 0.90% of The Advisory Board worth $18,807,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. purchased a new stake in shares of The Advisory Board in the first quarter worth about $109,000. Rockefeller Financial Services Inc. purchased a new stake in shares of The Advisory Board in the second quarter worth about $137,000. Asset Management One Co. Ltd. purchased a new stake in shares of The Advisory Board in the first quarter worth about $159,000. Ameritas Investment Partners Inc. purchased a new stake in shares of The Advisory Board in the first quarter worth about $166,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of The Advisory Board in the second quarter worth about $204,000.
The Advisory Board Company (NASDAQ:ABCO) traded up 0.37% on Wednesday, hitting $53.90. The company had a trading volume of 633,475 shares. The Advisory Board Company has a 12-month low of $24.85 and a 12-month high of $59.50. The firm’s 50 day moving average price is $53.15 and its 200 day moving average price is $51.91. The stock has a market cap of $2.20 billion, a P/E ratio of 20.49 and a beta of 1.33.
The Advisory Board (NASDAQ:ABCO) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.08). The business had revenue of $200.30 million during the quarter, compared to analyst estimates of $196.16 million. The Advisory Board had a net margin of 13.65% and a return on equity of 12.69%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share. Equities analysts predict that The Advisory Board Company will post $1.90 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on ABCO shares. Zacks Investment Research raised The Advisory Board from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, July 4th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $53.00 target price (up previously from $48.00) on shares of The Advisory Board in a research report on Thursday, July 6th. Robert W. Baird reaffirmed an “outperform” rating and issued a $65.00 target price (up previously from $57.00) on shares of The Advisory Board in a research report on Sunday, July 9th. BidaskClub downgraded The Advisory Board from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Piper Jaffray Companies set a $51.00 target price on The Advisory Board and gave the stock a “hold” rating in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.95.
The Advisory Board Profile
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company offers subscription-based membership programs, software and data-enabled services. All of its programs are rooted in best practices and extends across four areas, including Best practices research, Technology, Data-enabled services and Consulting services.
Receive News & Ratings for The Advisory Board Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Advisory Board Company and related companies with MarketBeat.com's FREE daily email newsletter.