Commerce Bank Sells 2,223 Shares of Omnicom Group Inc. (NYSE:OMC)

Commerce Bank cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,047 shares of the business services provider’s stock after selling 2,223 shares during the quarter. Commerce Bank’s holdings in Omnicom Group were worth $6,415,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group during the second quarter valued at about $33,000. Innealta Capital LLC acquired a new position in Omnicom Group during the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group in the third quarter worth approximately $33,000. Davis Capital Management acquired a new stake in Omnicom Group in the third quarter valued at approximately $36,000. Finally, HM Payson & Co. increased its holdings in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Macquarie lifted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays upped their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Stock Performance

Shares of OMC opened at $102.06 on Friday. The stock has a 50 day moving average of $102.20 and a 200 day moving average of $96.70. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.20 and a beta of 0.95. Omnicom Group Inc. has a 12 month low of $78.75 and a 12 month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the firm posted $1.86 EPS. As a group, sell-side analysts forecast that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 14.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.