State Board of Administration of Florida Retirement System Sells 820 Shares of The Advisory Board Company (ABCO)

State Board of Administration of Florida Retirement System cut its position in shares of The Advisory Board Company (NASDAQ:ABCO) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,343 shares of the business services provider’s stock after selling 820 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of The Advisory Board Company worth $1,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABCO. TimesSquare Capital Management LLC raised its position in shares of The Advisory Board Company by 2.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,700,537 shares of the business services provider’s stock worth $120,822,000 after buying an additional 67,350 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of The Advisory Board Company by 1.9% in the third quarter. Mackenzie Financial Corp now owns 1,185,328 shares of the business services provider’s stock worth $53,032,000 after buying an additional 21,900 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of The Advisory Board Company by 6.4% in the third quarter. BlackRock Fund Advisors now owns 1,058,656 shares of the business services provider’s stock worth $47,364,000 after buying an additional 63,836 shares during the last quarter. Stephens Investment Management Group LLC increased its stake in shares of The Advisory Board Company by 0.7% in the third quarter. Stephens Investment Management Group LLC now owns 865,648 shares of the business services provider’s stock worth $38,729,000 after buying an additional 5,915 shares during the last quarter. Finally, American Capital Management Inc. increased its stake in shares of The Advisory Board Company by 3.6% in the third quarter. American Capital Management Inc. now owns 792,095 shares of the business services provider’s stock worth $35,438,000 after buying an additional 27,180 shares during the last quarter.

Institutional Ownership by Quarter for The Advisory Board Company (NASDAQ:ABCO)

The Advisory Board Company (NASDAQ:ABCO) traded up 0.11% during midday trading on Friday, reaching $47.55. The company’s stock had a trading volume of 169,738 shares. The firm’s 50-day moving average price is $46.04 and its 200-day moving average price is $41.14. The stock has a market capitalization of $1.91 billion, a PE ratio of 21.32 and a beta of 1.15. The Advisory Board Company has a 52 week low of $24.85 and a 52 week high of $51.22.

The Advisory Board Company (NASDAQ:ABCO) last posted its quarterly earnings results on Tuesday, February 28th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.44. The company had revenue of $203.90 million for the quarter, compared to analyst estimates of $205.15 million. The Advisory Board Company had a negative net margin of 5.77% and a positive return on equity of 11.28%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. On average, analysts anticipate that The Advisory Board Company will post $1.91 earnings per share for the current year.

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ABCO has been the topic of a number of recent research reports. Canaccord Genuity restated a “buy” rating and issued a $36.00 target price on shares of The Advisory Board Company in a research note on Friday, January 13th. Robert W. Baird restated a “hold” rating on shares of The Advisory Board Company in a research note on Monday, February 6th. Zacks Investment Research downgraded The Advisory Board Company from a “hold” rating to a “sell” rating in a research report on Tuesday, January 3rd. Barclays PLC set a $56.00 price target on The Advisory Board Company and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Finally, JPMorgan Chase & Co. downgraded The Advisory Board Company from an “overweight” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research report on Friday, February 17th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.07.

In other news, CEO Robert W. Musslewhite sold 11,000 shares of The Advisory Board Company stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $47.48, for a total transaction of $522,280.00. Following the sale, the chief executive officer now directly owns 262,587 shares in the company, valued at approximately $12,467,630.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cormac F. Miller sold 750 shares of The Advisory Board Company stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $45.89, for a total transaction of $34,417.50. Following the sale, the insider now owns 18,237 shares in the company, valued at $836,895.93. The disclosure for this sale can be found here. Insiders sold a total of 93,840 shares of company stock worth $4,335,113 over the last 90 days. Company insiders own 2.90% of the company’s stock.

About The Advisory Board Company

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.

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