Synovus Financial Corp increased its stake in shares of The Advisory Board Company (NASDAQ:ABCO) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,411 shares of the business services provider’s stock after purchasing an additional 2,990 shares during the quarter. Synovus Financial Corp’s holdings in The Advisory Board were worth $633,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in The Advisory Board during the 1st quarter worth $109,000. Rockefeller Financial Services Inc. acquired a new position in shares of The Advisory Board during the 2nd quarter worth about $137,000. Asset Management One Co. Ltd. acquired a new position in shares of The Advisory Board during the 1st quarter worth about $159,000. Ameritas Investment Partners Inc. acquired a new position in shares of The Advisory Board during the 1st quarter worth about $166,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of The Advisory Board during the 2nd quarter worth about $204,000.
The Advisory Board Company (NASDAQ ABCO) opened at 53.30 on Friday. The Advisory Board Company has a 52 week low of $24.85 and a 52 week high of $59.50. The stock’s 50 day moving average price is $52.67 and its 200-day moving average price is $50.96. The stock has a market capitalization of $2.17 billion, a P/E ratio of 20.24 and a beta of 1.35.
The Advisory Board (NASDAQ:ABCO) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.08). The Advisory Board had a negative net margin of 1.49% and a positive return on equity of 10.61%. The firm had revenue of $200.30 million during the quarter, compared to the consensus estimate of $196.16 million. During the same period last year, the business earned $0.46 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities research analysts expect that The Advisory Board Company will post $1.90 earnings per share for the current year.
ABCO has been the subject of several analyst reports. Zacks Investment Research raised The Advisory Board from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, July 4th. Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 price objective (up 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 set a $65.00 price objective (up from $57.00) on shares of The Advisory Board in a research report on Sunday, July 9th. BidaskClub cut 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 company a “hold” rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The Advisory Board presently has an average rating of “Hold” and a consensus price target of $51.77.
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.
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